White Lithium Grease Review
White lithium is the common type of grease you will find in automotive stores such as Napa and Advance Auto Parts. It is a general-purpose grease suitable for most bicycle and automotive applications. It won't contain any special additives that some bicycle-specific greases do, but it's cheap, and it's still grease.
Pros: White lithium grease is cheap and easy to find; you can get it at automotive stores in 1 lb tubs for under $5. And it does the job just fine.
Did I mention it's cheap?!
Cons: I don't think it lasts as long as something like Phil Wood or Rock N Roll grease. That's because it doesn't have any special additives for improved performance and long life. So if you're a bike racer and every second counts, I'd look into a nicer grease for your bearings, especially your hubs, headset, and bottom bracket.
(I'm not scientist though!)
What really bothers me, is that since it's white, it easily turns an ugly yellow as it ages, so it looks disgusting when it oozes out anywhere (like if you use it on a seatpost.) That's honestly the main reason I don't use it on my nice bikes!
The Final Word
White lithium grease probably is not the greatest grease for in your hubs or anywhere you want the utmost performance. However, it should be fine for seatposts, pedal threads, stem bolt threads, etc.
I would recommend that every mechanic have a tub of this for odd jobs and use on beater bikes. When I'm prepping a winter bike, I'll use plenty of this grease on it.