Ya thinks so?, The "white" stuff is the compressors system oil,
(congratulations ya got a gusher!
'>:p , But seriously??? , you've a bad leak somewhere in the line,you'll be needing the attention of a refridgeration service to repair/replace the line or whatever the leak is. you might want to contact Eric @ global compressors, look them up in the services section of this site. or check locally in your area for vending machine service firms. on the bright side the compressor still works
'>
PS don't run the compressor again untill its repair you don't want to burn it up!