The only problem with that internet story is that unlike trans-fats most seed oils, canola especially, are always shown to have health benefits relative to the lard and tallow he is advocating every time it is studied. And, no, not all studies are oil industry sponsored.
They have told a great and believable story. They just haven't given very good evidence for their story. At least not that I have seen, and this is a question I get asked all the time.