smoking

["Lino M. Valadas" <valadasl@osha.igs.net>]

Hi,

Can anybody shed some light on the following problem with my 86 5kQTW. 
When I start the engine after sitting all night, I some times (80% of the
time) get a puff of smoke out of the exhaust (sometimes more like a cloud).
Aside from that the car doesn't burn oil. (I use Mobil1 15W50 in the
Summer).  My service manager suggests leaking lifters.
I personally think its the Turbo leaking oil into the intake manifold 
(thru the rubber hose).  The reason I think that is because I see oil there
(not good).
If it is the turbo. Should I worry about it.  I get lots of power.  I can
get the boost to 1.3 fairly regularly, once I saw 1.4. All original
equipment.  Any comments??    Thanks