I was going to reply with "you can't use barbed fittings at high pressures", but I looked it up and found some claiming 150psi (10 atmospheres). Huh. Perhaps this did start life as a hydraulic cylinder that has had some parts lopped off.
Not sure what the tube is filled with, but it looks like a lot of corrosion.
I don't think it's built up corrosion. The pipe is steel and corrodes to red/brown iron oxide, as visible around the circumference at the end. The green colour in the filling is not an iron oxide. It might be a copper oxide, or some dye in the white material.
