Oil isn't water soluble either for that matter you're just going to be drinking tea with oil in it. And alcohol can just as easily extract plant waxes, chlorophyll, etc as well it all depends on how good you are with the process.
#1. The oil is bonded to the Milk, which is bonded to the water. When its PROPERLY done its not just a drink with oil in it....
#2. Yes alcohol can suspend the plant waxes as well, but like i said before when its PROPERLY done its 75%+ cannabinoids....
Theoretically you could make the powder if you had a method of making powdered milk. Just extract the THC into the milk fat and then make powdered milk from it. It should retain the fat with the THC attached. Sounds hard as balls though.
Dairy allready has high Fat content, and you have to add More creme to get More oil to bond with the creme....Due to the nature of fats and oils, even if you managed to Evaporate ALL of the water without spoiling the dairy, you would be left with an oily, fatty powder... Commercial powdered milk is SKIM milk (NO fat..), so you have to fund Full Creme powdered milk....
IDK if this would work, but im starting to think its the only real way to get a "Powdered" form of THC.....
Extract oil to ISO
Add powdered milk (FULL creme) as a saturating agent
Boil off alcohol
Mix oily powder with water and heat to Render into 2 distinct layers
Let cool and take the top layer off (milk fat / cannabinoids are lighter than water, and will settle on the top, forming a puck)
Dissolve Purified fatty oils in Alcohol a second time
Ensure the mixture is FULLY dissolved (Use LOTS of Alcohol)
Boil off the alcohol and water (The alcohol evaporation will loft the water in the mixture)
Purify Powder by dry heating (to 65-70C)
Scrape up remaining powder...
i have to find some Full creme powdered milk and try this....