The food that you baked with it will taste fairly grim. Start again?
No.
Refrigerate all oils, including olive oil. Remove oil from the refrigerator ten to twenty minutes before use. This will allow it time to liquidify. If you're busy, just scoop it out with a soft...
Yes eating rancid oil can make you sick.
Oils are hydro carbons and decomposed rapidly in air or by bacterial activity to become rancid.
How to Cook with Gourmet Oils
Terry Tamminen on the True Cost of Oil
What Peak Oil Means
Richard Heinberg on the Effects of Peak Oil