I seem to be burning some white smoke when I mash my gas, plus the higher rpms are at a loss of power.

I thought it was oil but a friend thought it could be the head gasket?

The turbo is getting rebuilt but would an oil leak in the turbo cause this?

 

Either the head gasket, or seals would make you burn white smoke I beleive.

 

I would say most likely it's the head gasket. Coolant is getting into your cylinders.

 

Damn Head gasket!!! Is anyone else having head gasket probs? My buddy has them all the time with his supra

 

Heh, Be glad if it's a headgasket, they are cheap and are easy to replace. :P Just grab a haynes ( they suck but they are cheap) or if you can get your hands on a helms :P And go order a new gasket :P