Thread: Honing materials

Hello everyone,
I have some problems understanding some sharpening materials. First of all, why oil is used in honing? Does it help with actual honing or some kind of protection for blade?
What kind of files/rasps/stones do I need for maintaining sharp edge of woodcarving tools (Chisels, gouges)? Could someone recommend me a good sharpening item (file, rasp, stone) taking into account the quality/price balance. I understand that main sharpening is done with grinders, but I am talking more about honing/polishing.
Why is leather or some kind of stropping wheel used at all, does it clean the blade from small steel molecules that are left after sharpening? Can I just use some kind of leather for this stage or do I need special gear?

Thank you for helping, I know that these questions sound stupid for experienced people like you, but your help is much appreciated. Let me know if something sound way too stupid for you to answer, I will try to refraze and make my questions more understandable.

PS I know people advice to use machine oil for sharpening, but can I use baking oil made from olives?

PSS I have some ideas how to improve forum in order to help many newcomers that want to be familiar with woodcarving and other stuff. Just a couple of quick questions that I would like you to ask about forum codes:
Does [img] [/ img] works here to display pictures instead of links?
Is it possible to create some kind of introduction in every section like tools with pictures, names and description?
A sticky thread in sharpening section could include most of the common used tools with pictures and description of functions. I know there are some cool things like "the best threads" thread but in order to reach that you have to go though a bunch of hops and you will not find it in sharpening section. Some of those threads could be included like FAQ as a sticky thread. I have a huge lack of experience, but I could try to write an article about woodworking tools. This is a huge offtopic but I hope it will be more good to leave it in this thread.