Preheat the oven to 225 degrees Fahrenheit.
Pour the oils into an oven safe dish,
De-stem the ghost pepper, then cut it in half lengthwise. Keep the seeds in place for a hotter chili oil (scorching) or remove them for an "ever so slightly milder, yet still super hot" oil.
Place the chili halves in the oil face down, then cover the bowl with aluminum foil.
Put the bowl in the oven, and cook for 3 hours (allowing for heat infusion to occur).
Remove from bowl from the oven, pick out the large ghost pepper halves, then strain out any floating seeds.
Pour the oil into an airtight sealable jar or bottle, seal, and place in the refrigerator to cool.
Use within 3 to 4 weeks.