I make tofu bacon essentially following this recipe. I find that you need to cook it in several batches (I slice the tofu very thin) but it doesn't need a lot of oil. Just patience. I end up using more of the soy sauce/liquid smoke combination than this recipe calls for.
Last night however, I knew I would be in a time crunch so no time for patient stove-top cooking. So I sliced the tofu thin and put it on a baking sheet sprayed with canola oil. I then brushed the soy sauce/liquid smoke on the tofu strips (both sides) and sprinkled it with nutritional yeast. I gave it another spray of oil and then cooked it in the oven. I didn't cook it long enough for it to get crispy the way it does when you fry it but you really couldn't tell once it was on the sandwich. But for a more authentic crispy "bacon" the stove-top method works well.
This is a shot of the fried version before being tossed with the soy sauce and nutritional yeast.