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I use shell handy oil. Great lubricant and rust inhibitor ready and cheap available and food safe. I use it for everything.
It may not kill you but its not designed for food processing machinery. That being said, none of the synthetics out there will harm you in small amounts.
Here is the list of food grade lubes from Shell. http://www.foodlubricants.co.uk/food_grade_oils.asp
Olive oil, put a small drop on the pivot, whipe it over the blade and if I have an organic material handle it gets there as well. Gives a nice shine to the knife, and it smells good as well.