Red Velvet Cake -Grandma

2 cups oil
2 1/2 cups flour
1 1/2 cups sugar
1 cup buttermilk
2 eggs
2 tsp. cocoa
2 tsp. baking soda
1 tsp. baking powder
1 tsp. vinegar
1 oz. red food coloring
1 tsp. vanilla

Mix all ingredients together. Pour into greased and floured cake pans. Bake for 30 minutes at 350°. Makes 3 layers. Frost with:

1 box powdered sugar
1 (8 oz.) package cream cheese
1 cube margarine or butter
1 tsp. vanilla
1 cup nuts (optional)

Cream cheese and butter. Add sugar and vanilla; whip. Add nuts. Spread on cake.