Liquid nitrogen is safer and is preferred to liquid oxygen as a cryogenic liquid coolant. What happens when an oxidizing material comes in contact with a combustible substance largely depends on the chemical stability of the oxidizing material. The less stable an oxidizing material is, the greater the chance that it will react in a dangerous way. The usual source of oxygen for burning is air. However, oxidizing materials can supply combustible substances with oxygen and support a fire even when air is not present.
Some oxidizing materials are also incompatible with non-combustible materials.
These oxidizers can undergo dangerous reactions with water, inorganic acids or even other oxidizing materials. Oxidizing materials may be toxic or corrosive. Corrosive oxidizers can also attack and destroy metal. The MSDSs and the container labels should explain all of the hazards of the oxidizing materials that you use in the workplace. An example is ammonium perchlorate.