A couple of more reasons for EVOO's popularity are the fact that it contains no additives, it is pure. EVOO also contains a high content of vitamins and nutrients. It's good for your heart too.
EVOO has only been around since the 60's or 70's. Stainless Steel was needed for the process as EVOO only comes from the first press and uses no heat or additives. But since it's inception, it has become the number one oil for chefs and cooks the world over.
There is a problem out there though. Some EVOO is not what you think it is and it is legally done. I am attaching a link to a story on this subject that we forwarded to me by Mary Ann, one on my blog readers. I believe you will find it interesting. Losing 'Virginity': Olive Oil's Scandalous Fraud
My best thought on this is to buy your EVOO from a trusted source. I'm a member of Costco and believe they have great product integrity. So I buy all my Olive Oils from them. If you are happy with the Olive Oil that you are using, then continue with it. If you have concern, then maybe e-mail Sandy (from yesterday's blog) and ask for her option on the subject.
Virgin Olive Oil comes from the same first pressing but may contain a higher acidity than EVOO. EVOO is around 1.0% and Virgin Olive Oil can be as high as 3.3%. Although the industry tries to keep it around 2.0%. To be honest, you don't see a lot of this in stores (exception is large stores or specialty stores).
The Pure Olive Oil (usually just labeled Olive Oil) has been more refined and has less nutrients. This makes it less expensive and best for high heat cooking. This Olive Oil doesn't make for good salad dressings or dipping sauces.
I hope this has been interesting and some what educational for you. Remember to just enjoy using good quality Olive Oils as you have fun in your kitchen. Tomorrow some recipes.