I know this will be the last thing you'll try, but you need to disable all your mods and load Oblivion. If it still crashes, reinstall it. If it doesn't crash activate the mods one at a time until the crashes start. The last mod you activated is causing the problem
I do not believe that the OP has added any Mods yet. The way I read this, he / she has never had it running before now, and that error is the one that the oldest of the Intel video chips triggered, when the test for hardware T&L failed.
as soon as i click play, it goes into a little black window in the corner of my screen and another window pops up saying that it isnt responding, checking for a problem, then it shuts down. i need to fix this or the buy will have been a complete waste of money. PLEASE HELP
Without proper information, of course, it's just speculation.
P. S. After three days plus, it's a virtual certainty that Intel's junk is all that the OP has for video.