Ok here is the deal. I have searched and cannot find a similar problem.

I have an 03 4.6 (same color and year as Poor Weasels) with 89K miles on the clock. My office is about 3 miles from my house. I drove to office one morning and got out and smelled this burnt oil smell. I assumed it was the 4 Runner parked next to me.

This continued every day when I arrived at work. After about a week I noticed it was coming from my X5 but could not figure out where. It only happens after a short drive after start up then goes away. I drove her on a 3000 mile road trip in Sept without a single glitch. I added about a quarter of a quart of oil along the way. No drips or any evidence of any leaks that I can tell. It is still doing it but only after start up then goes away. Anyone????