Earlier quoted context omitted.
I've always been taught that after olive oil, canola is the best to use for cooking. What am I supposed to use?!
The theory I go by is to avoid highly polyunsaturated oils (which include canola); prefer monounsaturates. Olive oil is indeed the best if you're not going to get it too hot; next is avocado oil. Hi-oleic safflower/sunflower might be a third choice (better, at least, than canola).
Also, recently I think I read that coconut oil may not be as harmful as thought earlier by some (my guess is people thought it was harmful because it congeals at a higher temperature than other vegetable oils do). But on the other hand, people in coastal states like Kerala, Tamil Nadu, etc., must be using it a lot, and I have not read about them having higher cardiac problems.
All this is just anecdotal, BTW.