Place butter and sugars in a mixing bowl. Using wire beaters, cream butter and sugars on speed 3 until fluffy.
Add oil, eggs and extract; mix well.
Combine flour, baking powder and salt. Gradually add to creamed mixture beating until well mixed.
Add toffee bits and beat until just mixed. Drop by teaspoonfuls onto an ungreased baking sheet. Bake at 350°F for 12 to 14 minutes or until lightly browned.