Foolproof Refrigerator Dough

1 cup milk
1/3 cup sugar
1 teaspoon salt
1/2 cup water
1/3 cup vegetable oil
5 1/2 cups flour
1 package yeast
1 egg

Heat milk in a saucepan until bubbles form around edge.  Stir in sugar and salt, when dissolved add water and oil.  Measure 2 cups flour into bowl, add yeast and stir well.  Combine with milk mixture and then add egg.  Work in as much flour as dough will hold.  Turn dough onto a floured surface and knead 8 minutes until smooth and elastic. Place dough in an oiled bowl, turning to oil all surfaces.  If you are using part of the dough immediately after mixing, let it rise one,  shape it and then let it rise again;  bake at 375ºF.  Cover remaining dough and refrigerate.  You'll have to punch the dough down a time or two the first day its in the refrigerator; it's a bit frisky but it soon cools down.  When using refrigerated dough, shape rolls or dough 1 1/2 to 2 hours before baking.