This is something I have always found confusing, because you hear so many different opinions about different oils. Saturated will kill you, you must eat unsaturated. No, wait, saturated will NOT kill you and unsaturated WILL kill you if you heat them. That kind of thing. I finally found an article that clears this up for me once an for all, from Natural News.
First of all, saturated fat will NOT kill you and is NOT linke dto heart disease.
“A meta-analysis of prospective epidemiologic studies showed that there is no significant evidence for concluding that dietary saturated fat is associated with an increased risk of CHD or CVD. More data are needed to elucidate whether CVD risks are likely to be influenced by the specific nutrients used to replace saturated fat.”
Second, what you have to look for is the ‘smoke point’, the temperature at which the oil starts to smoke, at which point it also starts to degrade and potentially become hazardous to your health.
Macadamia nut oil and most types of olive oil have a relatively high smoke point, which means they are suitable for frying, although the smoke point for extra-virgin olive oil is considerably lower, making it not a good choice for cooking with a high temperatures.
Coconut oil was found suitable for baking but not things like deep frying, and walnut oil was found to be best reserved for use in salads.
Canola, corn, and soy are not on the list at all. Aside from the fact that rapeseed (aka Canola) is an insecticide and toxic to humans and aninals, these crops are pretty much all GMO, and should be avoided in general.