There does not seem to be any current, readily available, way to dispose of home cooking oil in an environmentally and socially responsible manner. Minneapolis has a handful of companies such as GreaseHauler that will go to restaurants and pay them for their oil and grease, but there are no cooking oil collection points for residential sources of cooking oil that would let non-commercial kitchens get in on free removal of vegetable oils, let alone get paid for it. The official recommendation from Hennepin County is to put it in the trash.
Minnesota even has a requirement that diesel fuel include biodiesel, but i guess most of this is coming directly from crops grown for this purpose.
Regardless, residential cooking oil recycling is commonly available and aught to be something we can get in the Twin Cities.
My present case is a long-term, now-departed houseguest's oil which has gone very stale if not rancid; so completely clean but not recommended for human consumption. But i would also like to occasionally deep-fry something, felafel or fries or tempura vegetables, and know i'd have somewhere to bring the oil after a couple uses.
Anyone else interested in this, particularly in the Near North neighborhood? Perhaps Breaking Bread / Kindred Kitchen could serve as collection points, or maybe Wirth Cooperative Grocery would be better suited for aggregating and vetting oil for recycling, and then further donating to a local restaurant, which presumably would be paid for it.
In the meantime, WikiHow has a perhaps an overly comprehensive list of options.