Chain oil

[Phil TK]

Waste engine oil is the best chain-lube...

It works like this on a sealed-roller chain, I think:

I agree. I might add that engine oil has surfactant type detergents in it which probably also helps, these are chemicals which 'hug' dirt particles and stop them sticking to anything, they then fling off.  I might be wrong though :\

Cans of chain lube are a hangover from the days of non o ring chains when you had to get lube to stay put inside the rollers but with o rings there's no reason for them anymore and not one chain manufacturer reccomends them or indeed makes their own brand -which speaks volumes about 'chain lube' products.
Dry lube? It's rubbish if like me you live near the sea and are prey to salt and that chain wax is another solution looking for a problem, but it does do a good job of creating thick mucky gobs of waste lube in the front sprocket housing.