Engine burns oil at high rev's?

[Purple]

My 68 has a newly rebuilt motor with about 1000 miles on it. During normal driving I see no sign of burning oil. But as soon as I run the rpms up (3500) in 1st gear (C 4) I see smoke out of the exhaust. It is gone quickly, and I don't see it after going into 2nd and drive. Any ideas??

thanks

 

[dodgestang]

Are you sure its oil and not gas?

 

[69Rcode_Mach1]

Carb could be rich up top, or the rings may not be seated properly yet. There are a lot of possibilities.