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45 percent of the fat in bacon is monounsaturated, the good-for-you fat that can help lower bad cholesterol levels. Better still, bacon’s monounsaturated fat turns out to be oleic acid, the same fat found in olive oil. So that means that some could argue that bacon is about half as good for you as olive oil and about 100 times more delicious. Of course, moderation is key here and one of the best things about bacon is that a little goes a long way.