Idc if this is dumb, I pour it in a bucket and when it's full I dig a hole in the back yard and pour the oil in there and bury it. I do this 1-2 times a year.
Honestly not the worst idea now I think about it. I have been using the paper towel soak method, but this could actually be less wasteful and easier on the organic composter. Thanks for the tip!
Edit:
Ok so I dug into this a bit more (no pun intended), and seems its not the best idea due to the oil potentially seeping into groundwater.