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I heard that heating vegetable oil can break it down and make it unsafe as well.
All oils are fats and any fat, including lard, that is heated past its smoke point will begin to break down and is no longer safe for consumption. This is true whether it is a vegetable oil, nut oil or animal fat, hydrogenated or non-hydrogenated. Link
The downside is the significantly increased richness of the finished dish. I am going to try making a roux next time using shortening and taste how this turns out. If I get the same qualities as the lard based roux with a little less richness, I think this will be perfect.