Preheat oven to 350 degrees and line cupcake trays with paper or foil cupcake liners. (Recipe makes about 15 medium-sized cupcakes.)
In a large bowl, mix Olive Oil and white sugar together well. Beat in the egg before stirring in the Maple Balsamic. Set aside.
In another bowl, sift together flour, baking soda, salt, and spices. Working in batches, mix dry ingredients into the liquid ingredients, stirring until smooth between each addition. Stir in the hot water, again mixing very well. Use a ladle or small measuring cup to pour batter into prepared cupcake trays; do not fill all the way, as the dough will rise.
Bake until a toothpick inserted into the center of a cupcake comes out clean, about 20 minutes. (If baking a sheet cake, use a greased 9x9 square pan and increase cooking time to about 40 minutes.) Allow to cool in pans before frosting (optional) or serving.
To Make Cream Cheese Frosting: In a bowl, beat butter and cream cheese together with an electric mixer. Add powdered sugar one cup at a time, mixing on low speed until combined between additions. Add Cara-Cara Orange Vanilla White Balsamic and orange zest, if using, and adjust as necessary. Spread room-temperature frosting on chilled cakes using a knife or rubber spatula. Lick the bowl clean if desired.
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