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Wood tool chest finish-boiled linseed oil?

Is there any inherent rust preventative ingredient in the BLO itself, or is it merely the act of covering a surface that prevents the rust from forming?
Stefan Gotteswinter had a video where he said (paraphrased) “People say that wooden drawers cause tools that directly sit on them to rust, but I’ve never had that problem because I finish my drawers with ??? Oil… (some sort of oil, it was probably Linseed Oil)

I’ll be able to let you know in a few years, I’m in the final stages of finished up a stand for my Mill and the drawers have been finished in Linseed Oil. I’ve been using it for several years on my other woodworking projects and I really like it- easy to apply, easy to repair. I use Lee Valley’s Tried and True.

I think it’s true that it doesn’t seem to really dry. It’s not wet but it does feel “silky” under the touch, if you leave something on it in the same spot it will show that the oil in that spot hasn’t evaporated. It seems to be like that for at least a year or two.
 
I have done many wood projects with boiled linseed oil, the foot stool that I am currently using is one of them, and it absolutely does dry. It is always ready to re-coat after over-night. But, it has to be wiped on, allowed to sit for a minute or two, then, very important, wiped off. Also be super careful with the soiled rags. Mine go directly into the fire, or get spread out in the open to dry. Tossing them wet into the trash can could potentially cause a fire.

However, using it to finish a drawer will have no affect on whether the tools inside them will rust or not. IMO. Before I had heat in my detached shop, I would liberally spray everything with WD 40 in the fall, and that seemed to help a lot.
 
BLO takes a bunch of time to harden up, even with a bunch of additional dryers. Used it on a Rifle Stock. Turned that into a years long project.

Personal choice, Watco Danish Oil (as I used on said Stock project, after stripping off the error!), in whatever shade you find least offensive. Have used it on several wood projects, mostly flooring or other high wear furniture, and not found it lacking. Quick to dry off, easy to apply!

Dunno if they dicked with the formula since then, though.
 
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