Could be pogie oil used in the manufacture of WD-40 - I know Rustoleum has bunker oil used in it.
If ya don't believe me try painting an old radiator with the primer in the winter - whew, smells like a tote of old bait.
"There is no royal road to this heavy surf-fishing. With all the appliances for comfort experience can suggest, there is a certain amount of hard work to be done and exposure to be bourne as a part of the price of success." From "Striped Bass," Scribner's Magazine, 1881.