I agree to a great extent with YOJULEZ.
Ask yourself what the oil is for / how you're using it ...
 if it's an ingredient in a baked item, you can often replace it with apple sauce or such. It's there for moisture and texture.
 if you're sauteeing, you can often use water / vegetable stock instead for some vegetables. Or you can use PAM or similar. Especially if the point of the oil is to make sure things don't stick. Or use a truly non-stick pan, perhaps a well-seasoned cast iron skillet.
 if you're sauteeing or pan-frying, you can instead roast in the oven with less oil. Oven fries vs. deep fried fries, oven-roasted potatoes vs. fried potatoes, etc.
[3.5] you can go for entirely different preparation methods with the same main ingredients, such as steaming or poaching, taking the oil out of the equation ... but you won't, of course, get the same flavor or texture.
 if you're deep frying, keep the temperature right -- *high* enough -- and you won't have much oil soak in anyway. Properly deep fried foods don't have to be oily and high in fat.
 and if all else fails, then cut the portion size down.
And thanks to YOJULEZ for the link ... looks interesting.