Well Mr.X we have to sell our millions of tons to someone...he he.
However, I cook everything with olive oil but personally I don't like it for frying: I use sunflower for that. And for the health thing, you know medical research is not a perfect science: today they say white, tomorrow they say black. But the prevailing idea, as far as I know, is that olive oil is good for health better than any other sort of "grease".
An Irish research:
The health benefits of olive oil
A BBC report:
BBC NEWS | Health | Olive oil acid 'cuts cancer risk'
A blonde and good looking woman doctor from Minnesota:
Olive oil: What are the health benefits? - MayoClinic.com
For the taste, make sure you tried the "extra-virgin" olive oil, wich is the first choice one (which is indeed too expensive for frying). Also, they're not all the same, depending of the weather, terrain and type of olives (there's not just one olive, as well as you have various types of apples): the best ones are from Tuscany, Liguria, Apulia (the strongest tasted type: it's from Oldsarge's homeland Btw) and from Lake Garda (the "mild taste" type, very low acidity).