See web site at:
http://www.osha-slc.gov/SLTC/healthguidelines/oilmist/recognition.html
Excerpt:
"This guideline summarizes pertinent information about mineral oil mist for workers and employers as well as for physicians, industrial hygienists, and other occupational safety and health professionals who may need such information to conduct effective
occupational safety and health programs.
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Effects on Humans: Exposure to mineral oil mists can cause eye, skin, and upper respiratory tract irritation as well as central nervous system effects in humans. In addition, certain mineral oils are carcinogenic in humans [Hathaway et al. 1991].
Exposure to mineral oil mists can result in localized irritation of the mucous membranes, and if exposures are excessive, headaches, dizziness, and drowsiness may result [Genium 1985]. Liquid petrolatum is essentially innocuous when
it comes in contact with human corneas [Grant 1986].
Inhaling mineral oil could cause inflammation of the lung. This is called lipid pneumonia. Oil-based nose drops or ointments most commonly cause this. Whether you develop this pneumonia or not depends on the concentration and duration of your exposure and your susceptibility. Please check with your doctor to see if this is a problem for you.