Question
I have a 35 foot Pine. about 15 feet up there is a row of 4-5 hole in the tree. They are seeping sap that is running all the way down the tree to its base. Is this bird damage after insects ? Is it going to be detrimental to the trees longer term health ? Will this cause Rot that could cause the tree to snap in high wind ?

Answer
What you are describing is made by a woodpecker (bird) called a Sap sucker. These birds make the holes and insects will come to feed on the sap and the bird returns to eat the insects. The white is sap from the pine You can spray the bark where the holes are located with an insecticide and this will kill the insects and the birds will stop coming. Use any house hold insecticide like Raid or Sevin. It will not cause any real health problems to the tree. Pine tree will produce sap and this will seal off any fungi that might enter.  
I would also fertilize the tree with 10-10-10 fertilizer at the rate of 1 lb of fertilizer per inch of trunk diameter scattered around the tree and watered in good. Do this now and again in the spring.