I just got my 98 lude and all of a sudden its starting to give off black smoke from the exhaust. I'm freakin raging right now

I talked to a mechanic at work and he suggested that i do an engine rebuild this winter. He will do it for me for $35/hour which isn't a bad deal at all. He has a drag car and he will do this for me. So i figure when i'm doing this, i might as well get a header, port & polish, maybe bore it out and ignition and a bunch of other goodies. But for now i guess i have to cruise around with black smoke

Now i have to wait til winter when i park it and fix it..this pisses me off so bad. I DO have a year's warrenty so i am goign to call the place tomorrow and see if i'm covered for this....fuck i hate my life