I've read that you can strain it through some wadded up paper towels as cellulose has a high affinity for water. I would think that to be the biggest issue as water in the oil will assist the bacterial growth.
If it has only been a year and in a somewhat dry space, like a garage or shed, it should be OK. I wouldn't want to burn it in my jet aircraft, but for a lantern it should be alright.
People get the government they deserve.