I use an aerosol of lanolin oil. (From sheeps wool). Our shop is
near the coast, and any tools left out will start to rust in about 12
hours. I spray it on everything, bedways, cutting tools, measuring
equipment. I use it for antispatter too, as it can be painted straight
over. I find it has a thinner film than most other oils, and it is a
natural product. Its available in bulk cans aswell, but the best
method of applying it is aerosol, or spray.