I have an 1993 Ford F-250 has the 7.3 Turbo Diesel engine. It starts fine but when u accelerate it starts boiling smoke really bad and wont rev up good. When you let off of the gas it stops smoking.

SOURCE: thick white smoke coming from exhaust

If it looks like a James Bond movie, you have a blown headgasket

SOURCE: Black smoke on acceleration diesel x-type jaguar

the inter cooler takes in unused fuel cools it and puts it back into the engine . so its black and oily it will be mucky around the crack. have a look with the engine running . you said you could feel air around the cam belt? around that area push and pull hoses and pipes etc . see if you can locate the problem that way. if you do . cean it off well . i did and used 2" wide tape to seal it up . if this helps rate me thanks joe

SOURCE: 2004 Ford F-350 6.0 Turbo Diesel - Severe Hesitation at Take Off

Some of these engines have a place to drain water out of the fuel system.. Some fords actually have a stick under the hood that you push or pull That opens a valve on a water collection bowl. It's not labeled usually. It might state where it is in the owners manual under fuel water drainage or something similar.. if that bowl is full it will cause hesitation... If it gets over full it will cause runability problems. Another possibility since you said it's black smoke is one of your injectors is sticking at low rpms and squirting raw fuel into the cylinder till the rpms get up enough to burn that fuel off completely then then the injector works a little better.... Do you notice any missing... Feel something under the hood like the air cleaner housing and make sure the vibration is constant and doesn't have a small sudden shake and the n smoothe... And then a small sudden shake again.
If it does have this shake you can trouble shoot which injectors by with the engine running loosening an injector line and seeing if the engine runs worse or not.. If it runs worse tighten it up and move to the next line till you unscrew one and feel and hear no difference... When you find that one that's the injector with the problem.

SOURCE: smoke is coming from the dipstick, 6.5L turbo diesel

Sounds like you have a clogged PCV valve thats the valve that lets the gases that get into the crankcase be rerouted back into the intake. It's silver about two inches and is usually in a rubber fitting in the valve cover and will have a hose on the other end. it's no tools installation just pull the hose off pull it out and replace with a new one. thats the first thing i'd do - 10 mins and 10 bucks should do it

SOURCE: why is my 99 ford F450 7.3L turbo diesel blowing

White smoke would be an idication of coolant in the combustion chamber. Check coolant level,check oil to see if it is a milky color.May be a leaking head gasket or possible oil cooler leaking. Let me know if this helpful