Strange burnt smell and smoke - 95 LHS

I just got my car back from the body shop after two weeks (some kid pulled a u-turn right in front of me and destroyed my driver's side fender/door) and I turned it on and got a whiff of a weird "burnt" smell. I get the car home and pop the hood and there is a fairly sizeable white cloud emitting from behind and below the AC pump on the passenger side. Doesn't smell like oil, but I'm noticing flecks and spots of some fluid that has apparently been shooting out down there and hitting the AC hose. It smells more like I have some hose or wire sitting on the exhaust, but eveything looks clear down there.

After several thousand dollar repairs on this car, is the engine finally leaking? I'm really freakin' out here. Any suggestions? I'd really appreciate it! :banghead:

Is it overheating? If not it could be the A/C Compressor popped a seal, might even luck out and it may need an O-Ring replaced in one of the hose connections.

Nope, no overheating. I'm fairly certain it's an oil leak as i was standing by while it was running and the hood was popped and suddenly we heard a pop followed by a hissing sound coming from the passenger side down near the exhaust. Plus when we checked the oil levels last night and it was bone dry.

It's probably your A/C. See if it's still working. Somehow I doubt it's your oil that's leaking.