In contrast to Dr. Grundy, Dr. Esselstyn, a renown cardiologist (medical consultant to Bill Clinton) said that the olive oil similar to many other oils delivers mainly empty calories and hardly any nutrients.
In addition, there are many different grades of olive oil. Refined oil, virgin oil, and extra virgin oil. And a few other grades, not even fit for human consumption. Any olive oil you buy in North America is a far cry from freshly squeezed olive oil in Greece, devoid of or containing only a miniscule amount of any essential nutrients. Furthermore, even the best olive oils rapidly deteriotate in quality and become rancid and harmful. If you want olive nutrients and other benefits, buy real olives not olive oil.
Personally, I stopped using any oils for cooking or for salad dressings six years ago and don't suffer any ailments or withdrawal symptoms. I don't take any medications and my cholesterol level, blood pressure, and all esential minerals are all in normal range. I don't get any cravings for oils or fried meals, although occasionally I treat myself to dark chocolate.
There are conflicting theories about consumption and benefits of olive oil. Proponents of Mediterranean diet like to point out that olive oil is essential ingredient in that diet. In reality, the high life expectancy of Greeks can be attributed more to their relaxed life style and large consumption of fruits and vegetables than to actual olive oil. There is plenty of online information from both camps endorsing or rejecting olive oil, often completely contradicting the opposing theories, so it's best to spend some time educating yourself and making your own decisions.