car running very sluggish on 1996 Volkswagen Jetta

My car even at high rpms in low gear hardly accelerates when a lot of gas is given. If you allow it to very slowly speed up it will only go about 70 mph or so, also at some point what seems to be a mixture of oil and water sprayed out under the hood. Is it possible there is too much oil in the car? Anything else it could be?

Asked by for the 1996 Volkswagen Jetta
The first part of your description sounds like a car that has a slipping clutch (if your car is a manual transmission) or possibly a transmission problem if your car has an automatic transmission.
Spraying oil or water out under the hood could be a sign of overheating or over reving the engine. Check the engine oil level and coolant level in the engine before attempting to drive the car but you certainly need to get your car looked at to determine what is wrong and what is needed to repair your car as soon as possible.
2 more answers
If you are driving a Diesel restricted intake manifolding is common to this concern.
Diesel or no you may have a collapsed catalytic converter/exhaust issue.......
That was my Idea, check to see that the exhaust is fully clear and not blocked!