Oils and fats are types of lipids that provide energy and essential nutrients to the body. They are found in various foods, including butter, olive oil, and nuts. Fats can be classified as saturated or unsaturated, with unsaturated fats generally being healthier for the heart. These substances play important roles in cooking and food preparation, enhancing flavor and texture. Oils, such as canola oil and coconut oil, are often used for frying and baking, while fats like lard and shortening can improve the consistency of baked goods.