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Meaning of snake oil

snake' oil"

Pronunciation: [key]
  1. any of various liquid concoctions of questionable medical value sold as an all-purpose curative, esp. by traveling hucksters.
  2. deceptive talk or actions; hooey; bunkum: The governor promised to lower taxes, but it was the same old snake oil.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.