Rancid oils taste bad, and contain free radicals, some of which are potentially carcinogenic. The potential for harm is low, however; eating rancid peanut butter probably won't result in a doctor or hospital visit.
No. peanut butter is actually a good treat for dogs (put inside chew toys, for example) when used in moderation, like all dog treats.
Good question, I don't know the answer.
Because it is made from peanuts but has the consistency of butter.
Its got the same consistancy of butter, but its made of peanuts.
No. Peanut butter contains peanuts.