My family skips the wetting-a-towel thing. We turn off the heat and drop the lid on the pan. You can also throw baking soda on it. The point being to smother the fire.
I got that one down very young; my father was a volunteer firefighter at Dupont when he worked there.
Or toss it in the oven. I can't watch the video (I'm at work and it's blocked) but don't spray a fire extinguisher directly on it either. It will spread any grease fire. You spray above it and let it drip down.
We had a grease fire once and my dad grabbed it and ran outside with it. 2nd and 3rd degree burns. At the same time, I'm following with the salt and my mom with the fire extinguisher. Only later, did we find out that the fire extinguisher would've made matters worse.
Salt works too. I keep a fire ext. right next to my stove. But then I pratically grew up in a fire house.
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