Blend together the oil and sugar. Add eggs, one at a time, beating well after each addition. Stir in pineapple juice.
Combine flour, baking powder, salt, soda and spices. Gradually add to the first mixture, beating until well blended.
Stir in carrots, cereal, crushed pineapple and nuts.
Pour into a greased 13 x 9 inch pan. Bake at 350 F for 50 to 60 minutes or until a toothpick inserted in the center comes out clean. Cool in pan 15 minutes and invert onto a wire rack to cool completely. Makes 12 to 18 servings depending on how you cut them.