http://www.nzherald.co.nz/lifestyle/news/article.cfm?c_id=6&objectid=11698366
Some incredibly irresponsible scaremongering by NZ Herald.
FWIW, the author is going on about Omega 6 fat in Canola, but saying olive oil is okay. These are natural products and fatty acid composition varies, but Omega 6 levels in olive oil can typically be higher than the levels in canola oil.
Deep frying probably isn't a great idea regardless of the fat used, especially re-using fat. Use of unsaturated fats for high temperature cooking may present some special issues, but the writer of that article is making outrageous sensational claims.