What would be the cause of oil coming out of the engine where the exhaust meets and white smoke coming from the exhaust in a 93 Pontiac Sunbird?

Answer 1

White smoke in the exhaust, more so on a cold start. That's steam. Water is getting into the combustion chamber. Most likely coolant. Put your hand in the white smoke to capture the odor. (don't burn yourself) What does your hand smell like? Coolant (anti-freeze & water) smells sweet. Likeliest cause = head gasket. Possible = cracked head - depending on how hot it got. Less likely = cracked intake manifold. you have a gasket problem and need to have it looked at immediately