Preheat oven to 350.
In the bowl of a stand mixer add the butter, vegetable oil and both kinds of sugar. Beat until well combined, light and fluffy, about 6 minutes.
One at a time add the eggs, beating until well combined between additions.
Add the baking powder, baking soda, nutmeg, salt and vanilla, beat until well combined, light and fluffy.
Turn the mixer on low, stir in the pale ale and buttermilk.
Sprinkle with flour, stir until just combined.
Grease a large loaf pan, pour batter into prepared pan.
Bake at 350 for 50 minutes or until golden brown on top.
Allow to cool completely before removing from the pan.
Stir together the powdered sugar, buttermilk, pale ale, and vanilla until smooth. Pour glaze over cake before serving.