That's a lot of 2 stroke oil coming out of the exhaust. It most likely indicates that your inner crankshaft seals are leaking into the engine. That would explain your boat being a mosquito fogger on start up for a few minutes until the oil burns off.
You can add a shut off valve on the Rotary valve oil feed line to shut off the oil and prevent it from filling the engine when storing. The only permanent fix is a complete rebuild if the engine.