Exhaust from 2000 Toyota Corolla

I have a 2000 Toyota Corolla, and lately I have been experiencing problems with what appears to exhaust coming from the tailpipe and leaving black-smutty looking residue on my bumper. I have seen a few other Corolla’s on the interstate with similar residue and am very curious as to where this could be coming from. I drove my car to the Toyota dealership to question this problem, and sadly, the mechanic could not help me. He just told me that my engine is burning oil very badly and my oxygen censor needs replacing. Could this be the problem?

This is where Tom & Ray ask, “Is your check engine light on?”

“Yes, it’s been on for the last year-and-a-half.”

“Aha!”

So, sj032004, what else can you tell us about your car? What else is it doing or not doing?