The Food and Drug Administration (FDA) announced Thursday plans to potentially ban all artificial, industrially-produced trans fat.

The announcement follows more than a decade of gradual phasing out after the FDA first proposed in 1999 that manufacturers be required to state the amount of trans fat on Nutrition Facts -- a requirement that went into effect in 2006.

Trans fat is created when hydrogen is added to vegetable oil to make it more solid, and has been linked to heart disease through a number of studies over the years. A 2002 report issued by the National Academy of Science's Institute of Medicine identified a correlation between intake of trans fat and increased levels of "bad" cholesterol, known as low density lipoprotein (LDL). According to the Centers for Disease Control and Prevention (CDC), a further reduction of trans fat from current levels could save as many as 7,000 lives and prevent up to 20,000 heart attacks every year.

For most Americans, the major dietary source of trans fat in processed foods takes the form of partially hydrogenated oils (PHOs), which have been widely used since the 1950s to improve shelf life and flavor stability. Cake mixes, coffee creamers, crackers, cookies, frozen pizza, ready-to-use dough products, vegetable shortenings and stick margarines all contain trans fats, as does fast food. A medium order of fries, for example, contains an estimated 14.5 grams, a Burger King Dutch Apple pie 2 grams and a KFC Original Recipe chicken dinner 7 grams, according to WebMD.

For this reason, the FDA has issued a preliminary determination that trans fats are no longer worthy of protection under the agency's "generally recognized as safe" category. If finalized, PHOs would then become additives subject to premarket approval by the FDA.

The FDA is currently soliciting comments on how the proposal would affect small businesses, and how the agency can ensure a smooth transition in the case that the determination goes through.

In the mean time, health officials suggest that individuals consider the amounts of saturated fat, cholesterol and trans fat in any given product when deciding whether or not to buy it. Those products with the lowest combination of these three are preferable, officials note. The American Heart Association recommends that people consume fewer than 2 grams of trans fat daily.