It appears to be a good idea if you plan on burning it. :roll:
The oil would make a mess on anything it comes into contact with , your truck when you transport the boat , your hands when you handle the boat. The water when the boat is in the water and especially anything it rubs up against. It would create an environmental mess that might get you in trouble with the local authorities. Especially if there is a clean water act in your area.
Plus if you decided to paint it later , forget that thought since the oil would stop the paint from adhering to the wood. As far as using epoxy and glass later on , forget that thought also , since any form of oil will stop the epoxy from adhering to the wood.
Personally I believe it would wreck everything you want the boat for. On fence posts it is great since it more or less weather proofs them for a while till the oil wears off of them.
