Preheat your oven to 325 degrees. Spray a 9×13 metal pan on the bottom, line with parchment paper, and spray again. If you need to use metal binder clips to hold down the sides, remember to use metal, not plastic. Set aside.
In a medium sized bowl, whisk together the cocoa powder, baking powder, baking soda, salt, and all-purpose flour. Set aside.
In the bowl of a stand mixer fitted with the paddle attachment, cream the butter, oil and sugar on medium high speed until light and fluffy, about 4 minutes. The mixture should turn white and nearly double in size.
With a rubber spatula, scrape down the sides and the bottom of the bowl. With the mixer on medium speed, start adding the eggs one at a time, mixing for 30 seconds after each addition. Scrape the sides and bottom after each addition.
Once the eggs have been added, add the vanilla, LorAnn’s emulsion, sour cream, and vinegar. Mix on low just until incorporated, about 30-60 seconds.
Scrape down the sides of the bowl and turn the mixer on low. Add half of the flour mixture and half of the buttermilk to the butter mixture and mix until just incorporated. Finally, add the rest of the flour mixture and the last of the buttermilk, while mixing on low. Do not over mix, this should take 30-45 seconds.
Evenly distribute the cake batter to the prepped cake pan. With the back of a spoon, even out the batter to ensure it’s smooth for baking.
Bake for 40-45 minutes. Check the cake by inserting a toothpick. It’s done when it comes out with just a few moist crumbs on it.
Let it completely cool in the cake pan. While the cake cools, make the cream cheese buttercream
For the cream cheese buttercream
In the bowl of an electric mixer, combine the butter and cream cheese. Beat on medium speed for about 2 minutes. Scrape down the sides and bottom of the bowl. Beat again for 2 more minutes.
With the mixer on low, add the powdered sugar, followed by the cream, vanilla extract, and a pinch of salt. Beat on low just until combined. With a rubber spatula, scrape down the sides of the bowl.
Turn the mixer up to medium-high speed and beat for about 3 to 5 minutes.
With a rubber spatula or a wooden spoon, beat out all of the air pockets by hand for a smooth look.
When the cake is cooled, use an offset spatula and frost the top of the cake. This cake is good served at room temperature or cold. However you serve it, it will not disappoint!