you appear to have a river in your exhaust
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Happened to my CRX when I put it on the dyno. I have a video somewhere. Little puddle of black liquid just spitting out. No biggie lol
its not as bad as this video .. but close to
http://www.youtube.com/watch?v=6a7yUPXCYvY
if it's in the exact same spot, It almost looks like a gasket between that clamp part.
Other than that, could be your headgasket :/
might just run the o2 sensor off .. how do you know if the cars running rich or not ?