Don's right about where and how the heat gets generated. It's at the contact point[s] of the blades to the Receptacle's terminals.
With a high load, the contacting surfaces create high heat, due to the non-solid connection. The heat then moves away from the source, by conduction, on anything which conducts heat easily that is connected to the Receptacle . Copper is a great heat sink, so it conducts the heat rather well. In turn, the heat then is convected or conducted outwards from the conductor, through the Insulation, to the colder air [or any colder object].
This situation gets worse as the Receptacle ages and becomes looser, making the contacting pressure less and less, plus smaller overall electrical conducting areas. Results are Series Resistors in line with the load
from the poor contacts. The heat is generated at those points big time!
You could run 20 amps through a #14 THHN cu for a good hour or more before it even begins to feel really hot, provided it's not surrounded by a lot of other circuits. However, run a portable floor heater for 5 minutes and the cord cap is nice and toasty warm!
Scott "S.E.T."