I had this problem recently with burning oil and smoke. I had a leak on the valve cover gasket so I replaced it and that stopped the leak. The revving the engine really high, also led me to find out that oil was leaking out of the oil cap. Apparently the rubber gaskets don't stay supple and will harden over time and no longer form a good seal. As for the oil cap, well didn't catch that until you rev the engine and splash tons of oil on it to see the leak there. I flipped the seal on the cap as a temporary fix but still need a new one. Also, you want to make sure the bolts are torqued down to the right specs as over torquing them actually will warp the lip of the valve cover and actually give you a poor seal.
These are two places you should definitely investigate before concluding to internal leaks if you don't see smoke out your tailpipe.
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