New vegetable oil and used vegetable oil aren't the same thing at all. He mentions in the video all the crap you can find in WVO and why you need to be careful. WVO isn't even part of this discussion, which is one that can run on for 10 pages easily.
I've watched the video 3 times and hear no mention of 10w-40. He repeatedly says "high moly additive" and "oil additive."
I say...