it seems this character who started this whole thing is just another crank. Just about every food has one who never gives up preaching the horrors. (Diabetic groups have been fighting the Aspartame legends, started the same way by one guy, for years.) Rapeseeed oil seemsd to have been used for a long time in Asian cooking wiothout any demonstrated ill effects.
The "mustard gas" part is the kicker-- if there was anything to this he wouldn't need to throw that in for the last scare.
For the skinny on this stuff, with all the technical stuff:
http://www.nutritiondata.com/facts-B00001-01c20A1.htmlNow, having said that, I don't think anyone suggests that Canola is really a panacea or ideal substitute for heavy oil users. Probably shouldn't be the only oil around, either. My personal preference is olive oil for most uses, with some bottles of peanut oil and safflower, corn, or canola lying around. I don't use soy, but probably eat a lot of it in Chinese takeout. Soy seems to be the base for most hydrogentated oils-- another reason to avoid Crisco, although the hydrogenation, not the soy itself, is the real problem.
About that smoke thing-- all oils smoke, and if you're cooking things hot enough to smoke the oil, you're probably generating a lot of nasty things, like nitrosamines, in the food. Not that they will necessarily kill you, but a few carcinogens do pop up here and there. I think the risk is small enough not to ruin my enjoyment of a good stir-fry or blackened catfish.
Oive oil does smoke at a lower temperature than most other oils, so that and its flavor does limit its use a bit. But, if someone doesn't need the higher temps and is OK with the taste in all things (even fish) it can be the only oil used. Too bad it's the most expensive one, but the highest priced extra virgin light oils aren't needed for cooking. I haven't tried the cheapo pumice olive oils (what they try to scounge out after the last pressing) but I don't know of any reason why it shouldn't work as a cooking oil.