Holy Smokes, and a buttload!!!

As I tried to pass a semi on the freeway just 20 minutes ago, I saw all this, either white or light blue smoke coming out from underneath my car. I have cutoffs. I floored it again, and again, it did it. As I came to a stop, I put in park and revved it up to about 5000 and no smoke at all. As the car was rolling, I put in N and rompped it and no smoke again. I then decided to run it, from 1st to 3rd at WOT, and there it was again. What is going on? I really don't hope water is going into my engine. Help me out, please.
 
Sounds like he tried revving it in nuetral while the car was moving and it didn't smoke then, so that would eliminate an oil leak. Sounds like maybe the rings are wore out? How many miles on the engine?
 
You have to tear the engine completely apart to change the rings. It's wierd that would be the problem tho with only 67K....Mine had 167K when I pulled the motor and it hardly smoked at all, if any.
 
I'm pretty sure blue smoke=oil and white smoke=water, so you'll need to find out for sure what color it is.

It could also be worn valve seals or oil getting into the intake, but as to how to find out what it really is I don't think I can be much help. Hopefully someone a little more knowledgable will chime in shortly.
 
blue smoke=burning oil, so an oil change wont fix it.

Do you still have the tube from your valve cover going into the intake tube right before the throttle body? You can check for oil around there, but other than that I can't really help much...