I use 'used' canola as bar oil now. I drain it from my fryer and filter it. It works great, and it is cheap. Virgin canola smells better than the used fryer stuff, but I do not have anything better to do with the used oil. Canola oil has gone down to about $5 a gallon here, while bar oil has gone up to around $10 a gallon. Red: half price & a lot healthier. Spill some, so what? Spray it around the yard, so what? Drink some, so what? Crank up the oil pump, and so what?
I am not ready to use canola in the gas mix just yet. I am not skilled in the bio-diesel making process with the peroxide and vinegar. I presume you have to remove the glycerin? Also I do not have any phenyl acetate handy to blend in.
Here is a blerb from Perdue on the advantages of Canola as a 4 stroke lubricant:
http://www.hort.purdue.edu/newcrop/proceedings1999/v4-247.html
And one point of interest:
<4-stroke blended Canola oil> when tested for marine toxicity was found to be over 210,000 times less toxic than its petroleum counterpart.