gone are the days of using corn oil. it is high in omega-6 fatty acids and we just get too much of that type of fat in the american diet and it competes with omega-3s which are the more anti-inflammatory type of fatty acid. which is where canola oil comes in. it is a made up name but the the oil comes from tiny seeds and it is a real oil that is high in monounsaturated fats and does contribute plant omega-3s as well. i use canola oil and olive oil in my cooking (usually canola in my baking because it has a neutral flavor). extra virgin olive oil has more of the antioxidants and phytochemicals in olives because it's from the first "press. " you might have heard that "light" olive oil is used in baking because it has more of a neutral flavor. you want to stick with extra virgin olive oil and use it anywhere the wonderful olive flavor is complimentary. olive oil has a lower "smoke point" than say canola oil which means it will start to break down and smoke when heated at higher temperatures. if you are doing some high temperature oven frying or pan frying use canola oil instead.
what are the different types of cooking oils?