Preheat the oven to 350F.
In a large bowl, combine the flour, oats, baking powder, cinnamon, nutmeg, and salt. Stir well to combine. Add the raisins and nuts, and stir again.
To a medium bowl, add the oil, brown sugar, 1/4 c. soy milk, vanilla and egg substitute. Stir to combine. Add the wet ingredients to the dry ingredients and blend well.
Drop the dough by spoonfuls onto the prepared baking sheet about 1 inch apart. Bake for 12 to 15 minutes, or until lightly browned.