Preheat oven to 350°F. Lightly grease 9x5x3-inch bread pan; set aside.
In a medium bowl, mix oil and sugar together with a wooden spoon. Mix in egg.
Add flour, baking soda, baking powder and cinnamon. Stir to incorporate, being careful not to overmix. Add raisins, milk, applesauce and finely chopped pecans, if desired.
Pour mixture into prepared bread pan and bake 35-40 minutes. Cool in bread pan before removing.
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