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It's an extracted product. Will it hurt you? Absolutely not. Is it worth paying large sums of money for? I don't think so. You can get everything that's in it by eating good foods. The OP asked for opinions. There's mine.
IMO, it's another product, marketed to create a need where there really isn't one.
I'm with Paleobird on this one. If you can get it from a whole food, your body will absorb it better. There are times, however, when it's necessary to supplement. For instance, I'm resorting to supplements right now simply because I'm pregnant and can't eat the vitamin rich foods I need without throwing up. I really hate it, because I've always been against supplements. We were meant to get vitamins from the food we eat, holistically. Eating food has more complex interactions with our body than just simply providing us vitamins. If you can get all your vitamins from what you eat, you’re more likely to be giving everything your body needs.
I believe cod liver oil to be toxic. Any benefit these people feel is probably due to Vitamins A and D, which are found in large quantities in cod liver oil and Americans are notoriously deficient in. I would advise you get those nutrients from safer supplements, or preferably whole foods. Egg yolks, beef liver, grassfed dairy and regular sun exposure would be a lot healthier than taking what amounts to oxidized paint thinner pills IMO.
The original "essential fatty acids" were linoleic, linolenic, and arachidonic acids. Now that the toxic effects of those are coming to be recognized, new "essential fatty acids," the omega-3 fatty acids, including those with long chains, found in fish oils, are said to make babies more intelligent, to be necessary for good vision, and to prevent cancer, heart disease, obesity, arthritis, depression, epilepsy, psychosis, dementia, ulcers, eczema and dry skin.
With just a normal amount of vitamin E in the diet, cod liver oil is certain to be highly oxidized in the tissues of a mammal that eats a lot of it, and an experiment with dogs showed that it could increase their cancer mortality from the normal 5% to 100%. Although fish oils rapidly destroy vitamin E in the body, some of them, especially the liver oils, can provide useful vitamins, A and D. In studies comparing fish oil diets with standard diets, these nutrients, as well as any toxins besides fatty acids (Huang, et al., 1997; Miyazaki, et al., 1998) in either type of oil, should be taken into account, but they seldom are.
What I wish they sold would be actual cod liver. They used to have it canned, dirt cheap back when I was growing up, and oh, boy, did I start craving it all of a sudden. Almost made it to a ethnic food store yesterday at lunch, but ran out or time. I guess I will have to take a bus part way one of these days. I am afraid that it will cost its weight in gold though. But lord, I am having a major liver thing atm. Can't wait to cook some beef one tonight and contemplating getting some chicken innards on Thursday.