I say no, it's not safer... The fire backlash risk to your lungs would be the same (i.e. there aren't different types of fire so if flames got in your lungs you're effed no matter what.)
and the oil.. nope. "Aspiration of oil, eg, mineral oil or vegetable oil, causes exogenous lipoid pneumonia, a rare form of pneumonia." Taken from e-Medicine.. http://www.emedicine.com/med/TOPIC175.HTM br> As if you read the above HOP link, pneumonia can easily lead to ARDS if the lungs are damaged enough.