• Heat the oven to 375 F.
• Grease and flour three doughnut pans or spray with nonstick baking spray.
• In a large mixing bowl, combine the butter, oil, and granulated sugar; whisk until well blended. Add the eggs and vanilla and whisk until blended.
• In another bowl, combine the flour, baking powder, salt, cinnamon, and nutmeg. Stir to blend thoroughly.
• Add about half of the dry ingredients and half of the milk to the first mixture and stir to blend. Add the remaining dry ingredients and milk and stir until well moistened. Do not overmix.
• Pour the batter into a piping bag (or into a small plastic food storage bag with a corner cut off).
• Pipe the batter into the wells of the doughnut pan, filling each one about three-quarters full.
• Bake in the preheated oven for 9 to 12 minutes, or until the doughnuts bounce back when pressed lightly with a finger.
• Cool slightly and glaze as desired.

Doughnut Glaze

• Combine the powdered sugar and 6 tablespoons of cream (or milk) and 1 teaspoon of vanilla extract. Whisk until well blended. Add more cream or milk until the desired consistency is reached.
• Drizzle glaze over the doughnuts or dip the tops of the doughnuts in the glaze.