Well I have been driving for a while, noticed when im at a stop that I see smoke coming in front of my headlights. Thaught it was the car in front of me but when I was alone at stop light, it was doing this again so I went out opened my hood and saw smoke coming out of the radiator. It was not wet that day so I know it wasent water, smells like rubber. I noticed my 95 S is wasting a lot of oil so i'm guessing it just might be the oil burning.

I also noticed when it smokes like that, the car loses power *As is not as much as torque like b4*. That day I tried to accelerate and it was barly goin anywhere. It started raining that night and my car was running nice and smooth, I am thinking it was because the rain cooled it down a bit so I might be getting a Cold air intake into it. BTW my Milly 95 S is 151,000 Miles lol, I race it a lot, I check the oil and supercharger oil. K&N Filter. Everything seems to be fine.

If anyone knows what it is please can someone post a reply?

 

Where's the oil coming from and where is it going?

If oil is going into the engine and getting burned, you should see blue smoke out of your tailpipe.

White smoke = water
Blue smoke = oil
Black smoke = gas (too rich)

You say when it smokes a lot, it runs bad. My theory is you have a gasket that's failing, and when the leak springs through you are losing engine vacuum. Your car would definitely run like hell if you have a leaky gasket and you're not keeping proper vacuum in the engine.

Make sure you don't have coolant in your oil system or oil in your coolant system (leaky head gasket could cause this.)

Find the leaks and get them fixed. Once it's sealed I bet it will run better.