As Canadian says, opaque bottles and storing in cool, dark conditions will get you the greatest shelf life, sometimes exceeding the expiration date, but no oil is going to stay good for more than a handful of years. Oil is one item that really needs to be rotated frequently, but it's also relatively inexpensive. Coming up with creative ways to dispose of it is a good idea.
Oils are fats, and fats are a unstable form of energy storage for living animals. It's begging to oxidize. Even in its purest forms with no biological contamination fats begin to break down into unstable forms fairly quickly. Hydrogenated oils are the most stable, but they also are the least useful to the body with many health and nutrition experts pointing toward them as a possible cause of type II diabetes, obesity and coronary artery disease. They're not found in nature; they're created by humans, and as such, even most bacteria won't try to utilize them as food.