I'm not averse to swearing, and I'll admit to having a pretty bad mouth myself sometimes, but there is just something about all the arrogant swearing PLUS not knowing what he was talking about that I found super annoying.
Regarding olive oil, it contains mostly (~73%) monounsaturated fatty acids, which means they have one (mono) unsaturated (double bond between carbon molecules), so it's not bad for cooking either. It's the poly (many) unsaturated fats that oxidise and produce the most free radicals when they are heated. Most of the rest of the fatty acids in olive oil are saturated. It's mostly composed of linoleic, linolenic and oleic acids, all of which are long chain.
Olive oil has a lot of other good stuff going for it: antioxidants, vitamin E, vitamin k, oleic acid which helps to reduce inflammation The main criticism is that the omega 6 to omega 3 ratio is higher than 10:1. Hopefully take some extra omega 3, but I'd say that the good of olive oil overrides the bad omega ratio. You're not using a litre a day, right? And be sure to get the best, virgin non-solvent produced stuff you can find, because a lot of the mass market stuff is rubbish. If you google you can find helpful people who rate them and explain the awful things some manufacturers do to the oil.
Butter is 60-65% saturated fatty acids, and about 30% monounsaturated. It is composed of both long and short chain acids (more long). It is a good source of Vitamin A, and if you are lucky enough to get butter from cows that are fed grass instead of grain, butter contains a good amount of omega 3 fats (ratio of omega 6 to omega 3 is 1:1) and it also contains vitamin K which we need in order to use calcium for bone health. Butter also contains conjugated linoleic acid (CLA) which has been well studied and has lot of health benefits. Grain fed butter has less CLA and more omega 6 than grass fed, but is still better than most vegetable oils.