On this sir, you are very, very wrong.
Folks who worked in the RF transmitter industry, the commercial lighting industry where core and coil ballasts were used, or any industry where high voltage was the norm, are well aware of the dangers presented by PCB containing oils and tars in capacitors and transformers. PCB containing oils were also used in large commercial hydraulic systems, some wire insulations, rummer and plastics compounds and even in paint and coatings. The PCB's were used primarily to augment the insulating qualities of oils and tars, and especially because they were not flamable.
PCBs are classified by the EPA as hazardous and cancer causing. They have been banned in the US since 1979. I remember when this happened, I was still in school and we had an in-depth discussion on the pros and cons to such compounds and why it made sense to ban it's use. That's when I discovered how many products it was in.