"EVOO" varies greatly as a product there are many grades and qualities of olive oil with different best uses. The lovely thick green stuff (preferably unfiltered) is really not for cooking and is a flavoring oil best applied after cooking. But your standard "Extra Virgin Olive Oil" is a processed oil that is fine cooking/saute and light frying oil.... It does not perform great for hight temp deeper frying as stated
"Extra Virgin" has no meaning in the US Olive oil - Wikipedia, the free encyclopedia
almost all olive oil sold in the US is labled "extra virgin" now.... except the "light" which is a total scam (not even 100% Olive oil). You have to look closer at the oil itself as the terminolgy is meaningless (not so in europe)
Olive oil is usually the default oil for me. I use it pretty much in everything I cook.For efficiency I usually keep a medium large bottle of middling (ie Trader Joes) quality on hand but my in my Italian-American home growing up there was always a large can of the cheaper stuff for frying and cooking and a bottle of premo juice for dipping and salads
I have been playing around with canola oil for frying and stuff lately so far I like it.