While it's possible that what you're saying could be true in theory, scientific experiments have failed to verify any measurable difference in efficiency between oiled and unoiled chains on bicycle drivetrains, especially when compared to the distinctly measurable losses due to using internal hubs or the use of gear combinations with fewer overall teeth (as is common practice among roadies to save weight).

As far as extending chain life, I remain skeptical as to whether or not the attraction of dirt by the sticky oil in real world conditions doesn't negate any benefit in this regard. Besides, unless you're using inexpensive black motor oil, replacing the chain will probably be cheaper over time than replacing the oil.

If you must lubricate your chain then the best way to do it would be to spray water from your bottle on it every ten miles or so (maybe add a little soap too if you can bear the taste ). Water is a good lubricant whose main drawback is that it quickly evaporates and it is often advised for "clean" applications where a roller chain requires lubrication (for example, food processing). Water will, of course, rust a steel chain, but there are many good nickel plated, or titanium plated rustproof chains available for single cog drivetrains.

In the interest of full disclosure I will admit that, yes, engineers generally advise lubrication in all roller chain applications, but the evidence seems to indicate it is not necessary for this application and I suspect the reason is that on a bicycle the chain doesn't move fast and consistently enough under load. However, as noted by mechanical engineer, cycling enthusiast, and former Porsche, Stanford Linear Accelerator Center, Hewlett-Packard and Avocet Bicycle engineer Jobst Brandt to "wipe the muck off the chain (with a piece of kitchen towel), spray whatever oil you're using on, then wipe of the excess with a piece of kitchen towel" is probably the worst thing you can do for your chain. With that in mind I have found "not at all" to be a close compromise to "not to excess" for my folding bicycles, whose chains I haven't oiled in over a year (after removing all oil with solvent) and many hundreds of miles without any noticeable difference in efficiency or wear.

If you have run your single cog drivetrain chains unoiled for an extended period of time and concluded otherwise then I'd love to hear it, but until then I'm all but convinced that the "necessity" of oiling the chain on single cog drivetrains is a mere cycling myth which causes folding bicycle users an inordinate amount of grief.