In a large mixing bowl, combine the flour, baking powder, sugar, salt, ½ cup of the milk, the 2 tablespoons oil, and the egg; mix until well blended and any big lumps of flour and baking powder are broken up. Add the remaining ½ cup plus 2 tablespoons milk, stirring vigorously until only tiny lumps remain and batter is the consistency of a pancake batter, about 5 minutes.
In a deep skillet or deep fryer, heat at least 1½ inches of oil to 350 degrees. Slide batter by large tablespoons into the hot oil (use another tablespoon to push batter off). Fry in single-layer batches until dark golden brown on both sides and centers are cooked, 4 to 6 minutes, turning at least once. Do not crowd. (Maintain temperature as close to 350 degrees as possible). Drain on paper towels and serve immediately as is, or with cane syrup or molasses, or sprinkled with powdered sugar.