if it's youre head gasket it is easy to investigate.
take the out that long iron thing with the yellow ring on it,
wich u use to measure the oil level (don't know what it's called in english

)
don't wipe it off, leave the oil on it and put a sigarettelighter on the oil.
if nothing happens, everything is ok.
if it starts to springkle and making noise, it's an indication that water is mixed with youre oil.
so could be that youre head gasket is blown.
but normally it doesn't fluctuate that much is it is blown..
the water just keeps lowering when this is the problem.
do a compression test, should clear out some stuff also.
about the white stuff in youre oil filler cap, could be that you don't do enough miles with it.
allways doing short distances whithout giving the engine and oil a change to heat up proper, could give this white stuff.
wipe it off, take it for a long spin, try not to do many short route's, and see what the result is.
a friend had this with his Mondeo Diesel, so could be you have the same problem?