Vegetable oil is a mixture of different lipids (fat and fatty acids).
Not all of these compounds are used by the body as a source of energy.
Some of these fatty acids are very healthy and necessary to build other molecules you surely need. Like omega fatty acids which can be converted by the body to prostaglandins, thromboxanes, prostacyclins and leukotrienes.

http://www.nutritiondata.com/facts/fats-and-oils/623/2
http://en.wikipedia.org/wiki/Omega-3_fatty_acid#Biological_significances

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