Oil Leak Hazard?

[bajuski]

I have a 4 cylinder 140 hp. I/O in my boat that has developed an oil leak at the rear seal the last few years. It's not bad, I only add 1 quart of oil during the boating season but of course it would require engine removal to replace it. It drips into the bilge and just a little oil floating on top of the bilge water looks really messy. You can also smell the oil when I open the engine cover.
My concern is fire! My thinking is that the oil could add to a fire should one start but oil fumes alone would not trigger a fire! Am I wrong?
I know we have several experienced firemen on this site that can ease my concern or prompt me to do something. What are your thoughts?

[Lipripper]

use an oil absorbent cushion. it will absorb oil. you should be really concern if the USCG inspect your boat. if they see a drop of oil or oil film in your bilge you can get a BIG fine.

[Shortdrift]

I had that same motor in my 23 footer. I wouldn't think of operating the boat with that leak. I'm sure you have quite a bit of oil scum and residue throughout the bilge. Start a fire in the bilge and the next thing is an explosion.
I saw two people DIE at the dock on separate occasions when their bilge caught on fire and the boat exploded.