http://sites.google.com/site/oblivionpoinfo/troubleshooting/postlo <-- under Troubleshooting (in the sidebar too)
Edit: Optimization...
Oblivion.esm
BetterMusicSystem.esm
All Natural Base.esm
Unofficial Oblivion Patch.esp
Unofficial Shivering Isles Patch.esp
DLCHorseArmor.esp
No psychic guards v1.2.esp
DLCOrrery.esp
DLCHorseArmor - Unofficial Patch.esp
DLCOrrery - Unofficial Patch.esp
BetterMusicSystem(SI).esp
oc_darker_nights.esp
DLCFrostcrag.esp
DLCFrostcrag - Unofficial Patch.esp
DLCThievesDen.esp
DLCThievesDen - Unofficial Patch - SSSB.esp
DLCThievesDen - Unofficial Patch.esp
DLCVileLair.esp
IWR-Windows.esp
IWR-Lights.esp
DLCVileLair - Unofficial Patch.esp
DLCMehrunesRazor.esp
DLCMehrunesRazor - Unofficial Patch.esp
DLCSpellTomes.esp
DLCSpellTomes - Unofficial Patch.esp
Knights.esp
Merchants Buy Stolen Goods.esp
Knights - Unofficial Patch.esp
DLCShiveringIsles.esp
DLCBattlehornCastle.esp
DLCBattlehornCastle - Unofficial Patch.esp
VaultsofCyrodiil.esp
Quest Award Leveller.esp
Quest Award Leveller - Vile Lair.esp
Quest Award Leveller - Mehrunes Razor.esp
Quest Award Leveller - Knights of the Nine.esp
Streamline 3.1.esp
Natural_Vegetation_by_Max_Tael.esp
Natural_Habitat_by_Max_Tael.esp
road+bridges.esp
Oblivion XP.esp
Map Marker Overhaul.esp
Map Marker Overhaul - SI additions.esp
MiniMap.esp
xulAncientRedwoods.esp
xulAncientYews.esp
xulArriusCreek.esp
xulAspenWood.esp
xulBlackwoodForest.esp
xulBravilBarrowfields.esp
xulBrenaRiverRavine.esp
xulCheydinhalFalls.esp
xulChorrolHinterland.esp
xulCloudtopMountains.esp
xulColovianHighlands_EV.esp
XulEntiusGorge.esp
xulFallenleafEverglade.esp
xulImperialIsle.esp
xulBeachesOfCyrodiilLostCoast.esp
xulLushWoodlands.esp
xulPantherRiver.esp
xulRiverEthe.esp
xulSkingradOutskirts.esp
xulStendarrValley.esp
xuldarkforest.esp
xulTheHeath.esp
xulRollingHills_EV.esp
xulPatch_AY_AC.esp
phinix-waterfix.esp
Beautiful People.esp
NRB4 Standard Road Record.esp
All Natural.esp
All Natural - Real Lights.esp
All Natural - SI.esp
All Natural - EW + NW + AWS.esp
I'm going over those optimization links now. It happens whenever the motion blur tries to come on