You can use any oil with a high smoke point. The smoke point of peanut oil is about 320 degrees Fahrenheit. The oils you want to *avoid* are unrefined oils that will smoke in the low 200 degree range, such as Unrefined Canola Oil, Unrefined Flaxseed Oil, Unrefined Safflower Oil and Unrefined Sunflower Oil (note that there are refined versions of each of the above oils that have a high enough smoke point for deep frying a turkey)
Your options are pretty wide open. Peanut oil is the standard oil to use but I sometimes use a combination of *refined* Canola oil and Peanut oil to reduce the fat and cholesterol- although not much of the oil stays on the turkey.