I've spent the past few months figuring this out myself. Here's what I've learned:
There are many types of fat. Some are better for you than others. In order of preference, they are -
-Monounsaturated, such as olive oil (good stuff)
-Polyunsaturated
-Saturated, in other words "meat fat"
-Trans fat, or partially hydrogenated vegetable oil (margarine)
Your body needs fat. However, the problem with trans fat, which is produced via an industrial process, is that it simultaneously lowers your "good" cholesterol AND raises your "bad" cholesterol. No other type of fat does that. Trans fat is used in an incredible array of foods. Almost any baked good that you buy at the store (cookies, crackers, muffins, even some bread) will contain it.
One other noteworthy item. US food labels now report the amount of trans fat per serving. However, if total trans fat is less than 0.5 grams
per serving, it can be listed as "0." But check the ingredients and you'll find partially hydrogenated vegetable oil (or vegetable shortening) in practically everything. That's politics for ya.
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