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The simple reality is, it's either leaking or burning. If you can't find a leak, it's burning at a slow enough rate that the catalytic converter is burning it before it goes out the exhaust as smoke.
Note, however, that condition will quickly change once the converter is fouled, then you get to purchase a new engine AND a catalytic converter.

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Q: 99 Chevy Tahoe 350 V8 consuming oil without leaking or burning it - where is it going?
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