Found this great list on the benefits of EFAs:
Oils are needed for many body functions, including:
Keeping the good guys in and the bad guys out - We are made up of cells. All cells and the organelles (small structures) within them have membranous outer walls made up of lipids (fats). These walls keep that which belongs inside (nutrients) inside the cell, and that which belongs outside the cell (toxins) outside. Cell walls are like the outer walls of your house - you want your house walls intact to keep your family, possessions, and heated or cooled air inside, bad weather and criminals outside.
More get-up-and-go - Essential oils produce energy and are necessary for the production of energy from all other food sources.
Regulating your regulators - Oils are an important part of the formation of hormones which regulate our body processes. Misregulation leads to PMS, low energy, low sex drive and other problems.
Less pain, more gain - Oils are involved in the production of pain reducing prostaglandins, which regulate many body processes and act as anti-inflammatory (to down-regulate pro-inflammatory) agents. Arthritis
is an example of an inflammatory disease.
Quicker recovery after working out - Oils shorten the time required for recovery of fatigued muscles after exercising by facilitating conversion of fatigue and pain-causing lactic acid.
Without oxygen your cells die - Oils are involved in oxidation, one of the most important biological processes. They participate in the transfer of oxygen from air in the lungs to hemo-globin (which acts like taxis for delivery) in the blood cells, and from there to cellular locations where needed. With only 4% of the body's weight, it uses 20% of the body's oxygen. A brain oxygen deficit can lead to 'brain fog', or trouble thinking and remembering.
Clears brain fog - Oils contribute to vitality and good mental state due to their involvement with neurotransmitters. Also, as mentioned previously, they increase oxygen to the brain, helping with clarity of thinking.
Increases beneficial oils and albumin protein nutrient transportation - Oils benefit mineral and nutrient transport, so all of the 'good guys' get to where they will do the most good.
True sun protection - Essential fatty acids help prevent sunburn from UV radiation. If you sunburn easily, this may be a sign of insufficient essential fatty acids (EFAs), not just a low ozone layer. B vitamins, found in quantity in Risotriene, also help protect against sun damage.
Younger hair, nails and skin - and that's just on the outside - Oils aid in tissue growth and repair. They can also help counteract wrinkling, brown spots, psoriasis, and other skin signs of oxidative damage.
Taking out the trash - Good oils also help carry out and keep out oil-soluble and petrochemical toxins from our bodies. People who are deficient in oils tend to absorb more oil-based environmental toxins like a dry sponge soaks up water. A healthy body with sufficient oils with instead repel such chemicals, like the oil in a duck's feathers causes them to repel water.