Hi Norm, You do ask some interesting questions, makes me think anyway…
By the way have you seen the price of a fuel pump lately..
The O2 sensor cannot just be removed or substituted. at least not with the standard ecu setup.
It is an important link in the chain of command, along with Throttle position sensor, crankshaft position sensor and more...All sending information to the Engine Control Unit (ECU) which determines the best fueling at any given engine speed/loading..
We won’t go into open and closed loop parameters.. suffice to say it won’t work…

One possible solution could be to fit a power commander which picky backs the standard ECU and necessitates the removal of the O2 sensor…
Provides fixed or programmable fuel mapping to your requirements..
Two.. Remove the entire EFI system and replace with a carburated conversion kit along with electronics to suit…
Neither are cheap options and could well be illegal in certain countries i.e. US California where emission laws are rigidly enforced..
Heres a nice little video of a guy doing the latter, Frustrating as my schoolboy french isn't up to it but i like to see how he works and the tools he uses..
Always something to learn….
https://www.youtube.com/watch?v=m_z1L3HeESQ