Well JRL you're kinda right there. Most people put oil on moving parts to get them to stop making noise or to keep them from rusting. Motors are oiled to prevent the bearings from seizing up.
There are 2 types of motors. Sealed motors that never require oiling, and then theirs the opposite. Those that do periodically need a few squirts. Sometimes there is a port in which to put the spout of the oil can.
All that being said, I dont even own an FEC yet so I have no idea what the motor on one requires. Like Smokin' says CookShack is only an 800 number away so it would be worth the effort to find out for sure. After all........we dont all have a Fast Eddy around to pamper us!
(just kidding Smokin')