Not much canola involved, though.
That's my bicycle chain being soaked overnight in 50/50 ATF and gearbox oil, after I cleaned it yesterday evening (soda bottle, kerosene and a few drops kitchen degreaser, plop chain in, shake, fish it out, done). I read that chainsaw oil is even better for lubricating bicycle chains, but that's what I had readily available at home. The gearbox oil is very thick, the ATF not so, both are meant for lubricating gears, so what could go wrong.
Having an SRAM "powerlink" in the chain makes opening the chain and getting it off really easy and fast, and involves no tools except two hands - with at least twelve fingers, as it's a bit fiddly the first time. Taking the chain off is generally messy, but that's no big deal - I use cheap disposable latex gloves from the supermarket for such grease-fests anyway (but, unfortunately, kerosene eats through the cheap latex gloves /very/ very quickly).
I actually do like preventive maintenance: it's great to fix things and make them work again, but to me it's even cooler to make them work perfectly before they break down completely. I know, pedantic and perfectionist, get a life and all that - I simply can't help it :-)
This preference of mine could be a bit of generational back-swing, because my father absolutely hates preventive work - and often pays a heavy price for that...