Chem, rancid oil smells – really, really bad. (whether it’s cooking oil or the oil in nuts or brown rice or…french-fried onions). I’ve learned to sniff-test my vegetable oil, because I overwhelmingly cook with olive oil, so sometimes the veg oil sits in the cupboard.
It’s awesome that you’ve managed to avoid it – but really, we’re not making it up. It smells bad and it tastes worse.