01 F250 Blowing Heavy Smoke

[RedDirtErik]

My 01 7.3 has been running perfectly for years now and yesterday it seemed to torpedo. Pulling small trailer on highway I started to notice whiteish smoke, stopped, checked and it smells pretty oily. Really bad at idle, seems to clear up at acceleration. Limping it home oil pressure dropped to zero. Had the wife bring me oil, took about 4 quarts, still no oil pressure, but it has oil. Got it home and looking at it am seeing that at idle I have no oil pressure, but getting it up to about 2000 RPM oil pressure rises to normal levels, all the while blowing lots of smoke. Took the oil filler cap off and I have a little bit of smoke coming through there. Time to send this one on down the road?

[RedDirtErik]

Checked for codes, no codes are pulling. Am I wrong thinking that the smoke is oil? It doesn't seem to be coolant, any way of verifying that this is oil smoke, fuel smoke, or any other kind of smoke?

[jesilvas]

If your oil pressure is 0, especially on the factory gauge, that's not good.
btw
See if the turbo has any play in the shaft. You might've lost the seals and burnt it up.