Smoking engine but not overheating oil

I have an old subaru legacy with an oil leak. Over the last month, it seems when it is hot outside and I am using the engine hard the front of the car will have smoke coming from it. The oil temp does not rise at all and the smoke seems to be originating from the undercarriage just in front of the front axle? Could this just be oil burning off or sonething else? If oil, can I wash it off in some way? Could it actually catch on fire?

What does it smell like?

Check the oil, coolant and windshield washer fluid levels.

If you have an oil leak, it is probably leaking onto the exhaust manifold or the down pipe from the manifold. A small amount of oil will create a lot of smoke but really not a fire. It would have to get really hot for that.