Grades
First, extra virgin olive oil is the highest grade of olive oil that you can buy. Ordinary olive oil and even premium virgin oils can lack taste and color because they are made in a way that is destructive to the taste of the olive. Also, beware of "light" olive oil, which is simply a variation of regular refined olive oil; the name does not mean that it offers fewer calories and fat.
Nutrition
Although an average tablespoon of olive oil holds around 14 grams fat, the majority of those are nutritionally beneficial monounsaturated and polyunsaturated fat. Butter, on the other hand, averages 12 grams of fat, and eight of those grams are saturated fat. Olive oil also wins out because it contains Vitamin E, beta-carotene, and antioxidants.
Taste
Taste is one of the main reasons people like to cook with olive oil instead of various vegetable oils. Oils like Canola or soybean are tasteless fats, so olive oil provides more flavor and better textural results when cooking or baking. My friend Renee Frigo, founder and CEO of Lucini Italia Co., agrees, "Tuscans have been baking with extra virgin olive oil since the 1800s. Extra Virgin Olive Oil is traditionally used in savory baked goods like focaccia bread, chestnut cake, and pizza. However, many Italian bakers use extra virgin olive oil in their cookies and cakes because it provides a moisture and silky texture that can not be achieved with butter."
Of course, don't get me wrong. I still occasionally cook with butter and enjoy it on breakfast toast, but I also appreciate that more restaurants are serving table bread with olive oil--it's a delicious and healthier alternative.
Selection
Consumer demand for olive oil has created a market for increasing varieties and selection. Those with experienced palates shop for olive oil like they would wine and can find bottles with their favorite flavors by understanding growing regions, as well as the quality and season of harvest.
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