Preheat oven to 350 degrees. Grease and flour one tube or Bundt pan.
In a mixing bowl, beat oil and eggs with an electric mixer until creamy. Add the sugar and pumpkin; beat well. Combine dry ingredients and slowly add this mixture to the egg mixture; mix until combined.
Bake at 350 degrees for 40 to 45 minutes or until cake tests done. Let cool on a wire rack. Once cool, frost with Cream Cheese Frosting.
For frosting, beat the cream cheese, butter and vanilla. Add the box of confectioner's sugar and beat until fluffy.