There is oil all over the carb and is puddled where the air filter goes, why

Either the crankcase is overfilled or the PCV system is plugged or the engine has excessive blowby due to mechanical problems like worn or broken piston rings.

get you a gallon of marval mystry oil drain your oil and filter put a little mystry oil in your old filter rinse it out put back on and oil plug too fill with mystry oil crank truck let it run for 3 min let cool of drain put in new filter and oil if problem still accelorate and oil light still stays on you might have problems with oil pump if oil light goes out and still problems accelorating try changing fuel filter if this doesn't do the job also crack you truck up (if it is carberated carb) take air fiter off carb intake pour a little mystry oil in carb very slowly while running this helps to clean deposites due this for about little at a time you will hear motor sound like choking stop let motor catch up do this for about 3-5 min then pour mysry oil in till motor dies let set for 3 min start motor them put gas treatment (STP) in gas tank this should do the job if you have furl injestion put one cup of mystry oil in gas tank and one bottle of (STP) and atleat 6-10 gal of gas. if this doesn't do the job you may need to tale the truck to a spec.

Hi
The engine produce little oil steam when is at normal temperature, this is normal.
This steam goes to the air cleaner for recycling.
Now, the reasons to see oil dripping from the air cleaner are:
Engine oil overfilled, or engine breather valve( if fitted) faulty, or the piston rings causing the pressure to scape into the oil sump ( this means engine damage).
get a technician to chem it.
good luck.

what is your vehicle , how much oil ,a little oil isnt unexpected if its where i think your refering as it is warm air/oil vapour entering the fuel injection system if its a puddle of oil get the rocker box breather checked out as a starting point

Oil in the air filter is usually caused by blowby which is oil blowing past the cylinder rings, or a PCV valve that is not working correctly. The crankcase has too much pressure and oil is escaping out to the air filter where the crankcase is supposed to get fresh air from.
If the PCV valve and hose are ok, you may need another engine at some point. The rings and-or cylinders may have excessive wear.

remove the distributor cap and dry out. Spray wd-40 (crc etc) on all ht leads

Check the pcv valve it may be sticking and sucking oil into air filter housing.

Value guides are bad

its called blow by.you have compression leaking past the rings,which is pressurizing the oil and the pcv system which burns crankcase fumes,is now putting oil into the carb.put a filter that is not too restrictive in front so the air,not oil goes in the carb.eventually the oil will gum up the system.in the 60s the engines had braether caps and did not reburn the crankcase fumes.

How many miles are on it? Check and clean the crank case ventilation (from the top of the valve cover to the air filter box) if there is a pcv valve check it and you may have to clean it. If not you have blow by some of the compress is going around the pistons into the motor and blow the oil out.