In a large bowl sift or whisk together the flour, baking soda, salt, and spices.
In the bowl of your electric mixer (or with a hand mixer), beat the butter and sugar until light and fluffy (about 2 - 3 minutes). Add the oil, molasses, egg, and vanilla and beat until evenly mixed. Slowly beat in the flour mixture mixture until well incorporated. Cover and chill the batter until firm (2-8 hours).
Preheat the oven to 375 degrees and line two baking sheets with parchment paper.
Place white granulated sugar in a medium sized bowl. When the dough has chilled sufficiently, roll into 1 inch balls. Then roll the balls of dough into the sugar, coating them thoroughly. Place on the baking sheet, spacing about 2 inches apart and, with the bottom of a glass, flatten the cookies slightly. Bake for about 9 - 10 minutes, or until the tops of the cookies have crinkles yet are barely dry. Remove from oven and cool.
Once cookies are cool drizzle with icing and top with sprinkles if using.
Store in an airtight container for about 1 - 1 ½ weeks.