I love olive oil.
When in Greece, I always start a meal in a restaurant with a hunk of fresh bread dipped in a little pool of olive oil sprinkled it with a bit of salt and pepper. Nom.
In my own kitchen in Greece, I almost exclusively use olive oil. Yes, even when frying. In fact, most restaurants and home cooks in Greece use only olive oil and celebrate it:
The Olive Tastes Network of Crete promotes the healthy, tasty, and cultural value of olive oil through certification of restaurants that only use olive oil in all of their cooking.
However, there seems to be a lot of controversy about using olive oil for high-heat cooking (searing, sautéing, stir-frying, and deep-frying) and much of the chatter, such as here and here, says that using olive oil for high-heat cooking is bad: