Coconut oil became all the rage several years ago, and I had more than my share of well-meaning, but misguided friends and relatives try to badger me into consuming it for several of my health issues. The oil was supposed to be a magic cure-all for everything from heart disease to diabetes to athlete's foot. The oil was also touted as an aid to weight loss.
The story I heard about coconut oil and saturated fat is that the saturates were somehow beneficial to the heart, or at the very least, did not affect cholesterol. Since I an a heart patient, I decided to ask my cardiologist about consuming coconut oil. He had 2 words for me: ABSOLUTELY NOT!
I know of one benefit to coconut oil -- relief of dry skin. But then again I suppose most other oils would have the same skin benefits.