Is performance bad across the board, or are certain processes taking a long time? My guess would be that it is a process that is consuming I/O, and CPU. Try taking a look at top or Glance and figure out if a certain process is consuming a lot of CPU, then use a query like this to determine the sql:
select s.sid, s.serial#, s.osuser, s.machine, t.sql_text from v$session s, v$sqltext t , v$process p where s.sql_address = t.address and s.paddr = p.addr and s.sql_hash_value = t.hash_value and p.spid = &&PID order by s.sid, s.osuser, s.process ,t.piece ;
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