94 cougar v8 smoke? gas smell? shaking? loss of power?

ello, i have a 1994 Cougar 4.6 V8, i started up my car this morning and there was alot of whitish-bluish smoke comming out of my exhaust. when i started driving it i noticed the car is shaking every time i accelerate and a major loss of power. there is a really bad gas smell coming from under the hood, and out the exhaust. im thinking it might be the spark plugs - but i had all 8 replaced back in june. any ideas please help?????

Check the fuel pressure regulator on the fuel rail. Pull the vacuum hose and check if it is leaking. If leaking replace with a new one. Next use a flashlight and check for any leaks at the injectors. You can buy new o-ring sets if leaking. Then check the fuel pressure with a gage if both of the previous test are satisfactory. You can also check vacuum canisters for leaks. Look for leaks on the fuel line.

any ideas please help?????
Try cleaning your MAF sensor wires ....
Cleaning MAF's sensor wires (http://www.tccoa.com/articles/intake/mafclean.html)

yeah i drove the car today to work, i think something shot inside the engine and now is ratling when i start the car. i left it on the side of the street gonna tow it tommorow.

Blue smoke is a sign of oil getting into the combustion chamber. This oil can foul the plugs and cause a misfire. This misfire could cause a fuel smell because that cylinder isn't firing and dumping fuel into the exhaust. I would start by pulling each one of the plugs one at a time and check them for oil or for anything else abnormal.