Oh, yeah: the main "ordinary" killer app of the blockchain will be fraud-resistance, as fraud (including embezzlement) is a kind of applied censorship.

Oil is better for this than (say) gold or silver, because the latter two can be melted down and recast into new (though unregistered!) bars. Ya can't do that with oil.

That said, ordinary inspection procedures will still be necessary in order to avoid something like this:

http://www.businessinsider.com/the-great-salad-oil-scandal-of-1963-2013-11