[shorod]

Since your profile shows that you live in New York, I'm guessing it's pretty cold there right now too. I'd be more inclined to believe what you're seeing is condensation in the exhaust burning off. This can easily be confused with the light blue smoke color from burning oil.

If it's burning oil, it will have a very distinctive smell of burning oil. If your exhaust has basically no odor, I'd certainly suspect condensation rather than oil.

-Rod