Question on Olive Oil

We all know that olive oil is full of good monounsaturated fats. But I've heard that heating it damages all those good fats. So is it pointless to cook with it? Do the fats turn into bad fats or are they just no longer helpful? I'm doing some research online and elsewhere about this and will update but wanted to hear what the people here had to say about it.
Also, advice on storing olive oil would be helpful too since I've heard that light can also damage it.

~Nicole
 
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heat oxidizes it, which just reduces its good qualities. it doesn't convert it.

and it depends on the amount of heat. when I stir fry (high heat) i use peanut oil.

for lower heat stuff, olive oil does the job.
 
I used to put a tbsp in rice when I boiled it up, but OO gets rancid fast.

Now, when I feel a need, I just plop a tbsp into my mouth.
 
Olive Oil

I love virgin olive oil, i put it on almost everything I eat. One Teaspoon of fresh olive oil is sooo yummy
 
I eat rice everyday, and I always use EVOO. Prolonged exposure to heat will make OO go bad, but for cooking it's fine. I also use it with store-bought pasta. It doesn't add much in terms of flavor (I'm only using 1 tsp +/-), but it works well to prevent any grain or pasta from sticking together.
 
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