Your turbo charger is leaking oil or water is getting into your engine requiring you to change your cylinder head gasket. I suspect turbo. To be sure the smell will be foul. he smoke when accelerating is so much its actually embarrassing driving the car in public. Get under the vehicle and loosen the nuts that link the the exhaust pipe to the exhaust end of the turbo. start the car and accelerate for a while like 5 minutes and let it idle for say 2 minutes. check if oil is coming out of the loosened joint. If it does then the problem is your turbo. you need to have it rebuilt or replaced.