I don't have the catback to the cat tighten on too tight so I have an exhaust leak. I only parked the car for about 14hrs and when I went to start it up, smoke came out like crazy. Then when the some calmed down a bit I revved it and saw that drips of oil came out from the gasket of the catback. What does that mean? Is it the turbos? It dripped about the size of a 3" diameter

How else can oil get in the exhaust besides the turbos?

 

It's possible your just seeing condensed water that collects in the exaust overnight leaking out. It would take a SERIOUS oil leek to produce drips from the exaust. It could be coolant however which is bad so keep an eye on the level.

 

no, it's oil. Black and oily

 

Remember that water from the exaust will be black from the soot in the pipes however if you are leaking that much oil it is BAD