Preheat the oven to 350F (180C) degrees. Line muffin pans with muffin papers. You'll end up with about 16 cupcakes, so you'll need 2 pans.
In a liquid measuring cup, whisk together the molasses and water. Set aside.
In a medium bowl whisk together the flour, baking powder, baking soda, salt, cinnamon, ginger, nutmeg and cloves. Set aside.
In a separate large bowl whisk together the melted butter, oil, brown sugar, granulated sugar, egg, egg yolk and vanilla extract.
Then whisk the molasses and water mixture into the butter and sugar mixture.
Whisk about ½ of the flour mixture into the butter and molasses mixture.
Then whisk in the buttermilk.
Lastly, whisk in the rest of the flour mixture.
Spoon the batter into the prepared cupcake pans, filling each about ⅔ full. You should end up with about 16 cupcakes. Do not try to fit all the batter into just 12 cupcakes. They will end up overflowing and then sinking in the middle.
Bake for 15-18 minutes, or until an inserted toothpick comes out clean. Cool in the pan for about 15 minutes, then carefully transfer to a cooling rack to continue cooling.