Heat oven to 325 degrees.Beat sugars and butter. Add oil and eggs.
Combine dry ingredients. Mix into batter.Stir in vanilla.Bake for 1 hour and 20 minutes. Cool.
For frosting bring first 4 ingredients to boil, stirring constantly for 3 minutes. Remove from heat and add baking powder and vanilla. Beat with mixer at medium speed 5to7 minutes until thickened. Drizzle over cake
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