Cooking with oil does a few important jobs, even outside of the taste of oil itself. First off, it distributes heat, so that food cooks more evenly. This makes food less likely to burn and keeps everything cooked to the same level, which is important – without oil, only the bits of food in direct contact with the pan get the full effect; oil creates a smooth layer that transfers heat much better.
But even more importantly, oil can get much hotter than water, which boils at 100C/212F. Water literally can’t get any hotter than that without evaporating, while oil can be hundreds of degrees hotter before it burns off. That high temperature lets us reach the Maillard reaction, where sugars and proteins in food react together creating savory flavor compounds and a browned color. The sear on a steak, the crisp brownness of pizza crust, the richness of slow-cooked onions, these all come from Maillard reactions.
Of course, oil is also dietary fat – and we’ve evolved to enjoy the rich taste of fat. We make most cooking oils to cook evenly and not burn too hot, so we aren’t prioritizing their flavor; they add richness to the food that we cook instead. But things like butter and extra virgin olive oil are both forms of fat with some tasty flavor compounds in as well – and many of us love those tastes.
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