Please take a look at the oil feed. There is a lot of rust on it. How can I get rid of it and prevent it from rusting anymore. Thank you.

 

Wire brush on dremel tool will probably get it off but the metal is probably already pitted so it'll most likely return in time. I don't know if a heat paint would work or not due to the extreme heat output.

 

Is this an issue that will cause greater damage down the road? I am concerned it will completely rust and ruin the engine or turbo and would like to do some preventative stuff to stop that from happening.

 

Wash your engine bay more often. Not only does it look good, it prevents build-up of this magnitude and when things need to be diagnosed in your engine bay, a clean engine bay is much easier to work with.

Most people I know don't do this as often as they should. It's especially true for winter drivers where lots of salt is used. Use a wire wheel attached to a power drill to remove the corrosion.

 

It really just looks like surface rust so it should be ok.
Countryboyshane says it all, wash that engine compartment occasionally.
Helps to diagnois issues, oil leaks, bad wires, etc. plus it looks so much better.
Attached is a pic I took the other day. Of course, down here we don't get snow and all that crap but we do get lots of pollen and dust.

 

The zinc coating on the tube probably flaked off due to the heat from the turbo. It's a non-issue. It's just surface rust. It would take decades of contstant exposure to moisture for that to rust through the hard line.