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Ask Mr. Know-It-All: Is "gutter oil" actually that bad for you?

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Ask Mr. Know-It-All: Is "gutter oil" actually that bad for you?
Dear Mr. Know-It-All,
Is this so-called “gutter oil” actually bad for you? I reuse my cooking oil all the time! Come on, how bad can it possibly be? – Lardo
 
You reuse your frying oil, Lardo, because it’s a waste not to when you’re deep-frying. It would be foolish to fry one thing and then chuck your oil. After all, it’s pretty expensive—even if you don’t go full extra-virgin cold-pressed peanut oil every time you’re trying to get your tempura on. 
 
That’s the problem, of course. Processed oils and fats are expensive. They’re a considerable expense for any restaurant, bakery or catering business. And the businesses who are counting the pennies—i.e. any business in the world—is going to try to get a good deal on their products. 
 
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