Is it safe to cook with food grade mineral oil?
Well, food-grade means you can ingest some without poisoning yourself. It does not mean it’s a suitable replacement for cooking or baking. If you do use it, you will soon learn that it’s a laxative, which means you won’t get to enjoy the food in peace.

In hard times, people have used it and during World War II, the British government suggested using liquid paraffin in place of other, rationed, fats. The already mentioned side effects were also observed. You can find a sample recipe here.