Preheat the oven to 350 degrees F. Line baking sheets with parchment or silpat mats.
In a large bowl, use an electric mixer to combine the butter, oil, powdered sugar, brown sugar, baking powder, cinnamon, and salt until light and fluffy, about 2 minutes.
Beat in the egg and egg yolk and vanilla until well blended. On low speed, beat in half of the flour. Then beat in the remaining flour until well blended. The cookie dough will be very soft. Refrigerate at least 15 to 30 minutes, to firm up the dough slightly.
Mix the sugar and cinnamon in a shallow bowl. Set Aside.
Use an ice cream scoop to scoop out a generous amount of cookie dough, roll it into a ball and place it on the prepared baking sheet. Space cookie balls at least 3 inches apart on the baking sheet (I baked 3 or 4 at a time). Lightly coat a glass with a 4 inch bottom in oil, then dip in cinnamon sugar, then use the bottom of the glass to flatten the cookie dough balls. Re-dip, as needed. Lightly sprinkle the cookies with additional cinnamon sugar.
Bake for 10 to 12 minutes, or until cookies are just light golden brown around the edges. Let the cookies cool on the baking sheet for about 5 minutes before using a wide spatula to transfer the cookies to a cooling rack to cool completely.