This man uses it for deep frying.
Yes, I also use olive oil for frying.
veal or pork cutlets, sauteed shrimp, scallops, squid--olive oil
French fried potatos or fried chicken or chicken fried steak---peanut oil
Smoke point:
375 F: Olive Oil ~$18.00 per gallon
440 F: Peanut Oil $8.00 per gallon
Not for fried chicken....it needs to be cooked at a temperature that is higher than the smoke point of olive oil for best results.