@stormyknight: Yes, you can make your lip balm. I started making it a couple of years ago and now that is all that I use. This is how I make it:
Your ingredients are ½ cup extra virgin olive oil, 4 tsp. shea butter, 4 tsp. soy wax, and 15 large sized Vitamin E capsules. You need to poke a hole in them to get the liquid inside. You need to have a double boiler, also.
Place all of the ingredients in a heat-safe bowl and place that bowl into your double boiler. Allow the ingredients to melt but do not let it boil. When all of the solids have melted, remove from heat and stir until very well mixed. Pour the mixture into small lip gloss bottles and allow it to cool completely before putting the top on and before using.
Sometimes, I will use a little bit of medicated Carmex in the mixture if my lips are really chapped. You can even add a few drops of your favorite flavoring or essential oils to your mixture.