I recently bought a 1995 4x4 Tahoe for my son. He has driven it about 100 miles. This morning I noticed some oil on the driveway. After opening the hood it appeared to be coming from a fairly large cylinder shaped part(????) located above the drivers side front wheel-well at the front of the engine compartment (by the radiator) There was oil all around the area. Could it of might sprayed from a pressure hose and just looked like it was coming from the cylinder? Before I took it in for repair I thought I would ask some smart folks.

What color is the oil? I am not sure what part you are describing, sounds like maybe a evap canister but that has no oil. Check your power steering fluid level if the fluid is under pressure it could be from the power steering lines, open the hood and turn the wheel with the vehicle running if it is the power steering it will spray.