According to my mechanic, the caravan has a blown head gasket. I looked around for pricing on replacing the motor, but it would be cheaper to do the repair work instead of buying a new engine block. Since the valve covers tend to go bad on the 3.0L caravans, I will be replacing those as well. Fortunately, I won't need to buy new cylinder heads; just get them milled.
Please excuse any possible terminology errors, for I am not car savvy enough to have in-depth engine discussions.