Sorry mutley...
Since oxygen sensors are located in the exhaust stream, they do not directly measure the air or the fuel entering the engine. But when information from oxygen sensors are coupled with information from other sources, they can be used to indirectly determine the air-to-fuel ratio. Closed-loop feedback-controlled fuel injection varies the fuel injector output according to real-time sensor data rather than operating with a predetermined (open-loop) fuel map. In addition to enabling electronic fuel injection to work efficiently, this emissions control technique can reduce the amounts of both unburnt fuel and oxides of nitrogen from entering the atmosphere. Unburnt fuel is pollution in the form of air-borne hydrocarbons,
Peccavi reads Wikipedia and understands closed loop servo systems, February 2009