probably a blown head gasket
The white smoke coming from the exhasut is a sign then engine has a blown head gasket. Coolant is getting into the combustion chamber and appears as white smoke at the exhaust. Maybe this is why the car has sat for 2 years?
If white smoke is coming out of the tailpipe when the engine is up to operating temperature it sounds like engine coolant is getting into an engine cylinder from a bad head gasket , a warped or cracked head , or some other problem
Overheating or coolant leak.
supercharger seals could be bad
Thick white smoke is an indication of coolant entering the combustion chamber. More than likely you have a blown head gasket, especially if the engine has overheated recently. Stop driving this car as severe engine damage will occur due to coolant in the oil. The heads must be removed and new head gaskets installed. A major repair.
possible cylinder head fault or head gasket failer, may be valve or valve stem seal failer, easiest way to find out is do a compression test across all four cylinders.
it may be due to loss of compression.the cylinder liner may have become oval,combustion is not complete so check the ignition timing.check the ovality of liner.with the use of a 'feeler gauge' check the clearance between liner & piston rings.
rings are bad
Steam from the tailpipe, and water in the oil means you have a faulty head gasket. Not a good thing. The steam is the antifreeze/water coolant leaking into the heads (bad gasket) getting heated by the engine and coming out as steam. The water in the oil is the same deal, but it;s collecting in the oil so it isn't coming out of the tailpipe. You need a new head gasket. I promise.
Is the white smoke steam or oil vapor? If it's steam, it just needs to warm up, if it's oil vapor it's probably pretty serious. Same with the knocking. It could be timing or it could be a rod bearing or any of a number of potential problems that fall somewhere between the two in severity; it all depends on what it sounds like.
blown head gasket. the easiest way to tell is to open the radiator cap while the cars running BUT BE CAREFUL! if theres antifreeze in there it will spray and burn you! but if you have a blown head gasket when you open the throttle the same white smoke will blow out of the radiator cap. white smoke is a sign of a blown head gasket though.
Because you blew the head gasket