Help, Daily driver, smoke problem Options

[theo]

My 914 daily driver has been having a bad smoking problem lately, it started out just smoking at idle after coming off of the freeway, and I would see a small amount of smoke while shifting between first and second gear. Though today while I was on the freeway in 5th gear doing probably 60mph, there was a steady stream of smoke coming out of the tail pipe. My car has a 2.oL engine with duel Dellarto carburetors, it runs very rich with a bad exhaust smell, but it has since I bought it a couple years ago. Last week I changed the oil, I was using a 10-30 valvoline, but I switched to a 20-50 brad penn oil. I haven’t done much to the engine in the time I have had the car other than change the oil and adjust the valves. Oh, the smoke is a mostly white grey color, so my question is, is this an obvious problem of warn rings that would warrant a rebuild? Or is there other solutions to try, (there is no reduction in power that I have noticed)
Any and all advice would be greatly appreciated; it has gotten to the point that it is unpleasant to drive the car.
Theo