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Thanks again for the input. I will definitely take these things into consideration when making my final decision. It was a little cold this morning so it was difficult to tell how much of the smoke was condensation from the weather or oil. I might try to get a quote on replacing the valve...

Thanks for the info. Local mechanic is suggesting $5000 (parts/labor) to replace the engine (with an additional $500 variance on minor parts/labor). He also said that I could technically just keep driving the car as long as it drives fine, as long as I put oil back in to get the light to go...

Thanks everyone for the replies! 1. spark plugs. i need a tune up soon and spark plugs/wiring is on that list. lolwut, what will the spark plugs look like if the car is burning oil? 2. oil pressure. it sounds like what your saying is that i might need to also look into resolving an oil...

I've kept decent care of my Protege over years. I've kept up with the scheduled maintenance and replaced the oil regularly. Now my car seems to be burning oil. "I say" it's burning oil because I don't see it leaking anywhere and the oil light comes on at least once a month (sometimes more)...