In a mixing bowl, add sugar, flour and cocoa. Stir and set aside.
Boil butter, oil and water in a saucepan for 1 minute.
Pour wet ingredients into dry ingredients in mixing bowl. Blend both together with a mixer on medium speed for 1 minute.
In a separate bowl, whisk eggs and buttermilk together. Pour into contents in mixing bowl.
Blend batter with a mixer for 1 minute on medium speed until combined.
Pour batter into a 13 X 9 inch greased and floured pan.
Bake at 350 degrees for 35 minutes.
SALTED CARAMEL ICING
Place brown sugar, milk and butter in a large saucepan. Turn the heat to medium and stir until mixture comes to a boil.
Boil for 1 minute, stirring constantly with a whisk.
Take mixture off of the stove and pour into a mixing bowl.
Using a mixer on medium speed, blend in the confectioner's sugar and vanilla until no lumps are present.
Mix on low for 3 minutes until icing begins to thicken.
Stir in salt and spread over cake before icing gets cold. It will harden once it sits at room temperature, or you can put it in the refrigerator to cool.
Drizzle cake with store bought caramel sauce to garnish if desired. (optional)
Notes
If you don't have self-rising flour, substitute 2 cups all purpose flour, 1 Tablespoon of baking powder and ½ teaspoon of salt for the flour in this recipe.
The caramel drizzle on top of the icing is totally optional. This cake is plenty sweet without it, and doesn't need anything extra. But, you can use it if you like the way it looks.
You can also leave out the sea salt if you only want homemade caramel icing on top of the cake.
For best results, use a hand mixer or stand mixer to beat the icing once you've added the powdered sugar. Otherwise, it will be lumpy.