Take out the extra rack in your oven if you have one, and put the remaining rack on the bottom or next to the bottom level. Preheat oven to 225°F | 110°C.
In a large paper grocery bag, mix cereals, pretzels and nuts together and set aside.
In a saucepan over medium heat, melt butter and oil together, and then blend in Worcestershire Sauce, Liquid Smoke, and hot sauce. Slowly pour over mixture in the bag, shaking as you do to cover everything. Sprinkle seasoned salt over everything, shut the top of the bag, and shake the heck out of it.
Roaster Pan Method:
Pour the mixture into a large (turkey) roaster pan. (It will barely fit.)
Place mixture in roaster pan into oven. Bake for 45 minutes.
Using oven mitts, carefully pour mixture into the large paper bag and shake a couple of times. Return mixture to roaster pan and return to oven.
Repeat 4 times, for a total baking time of 3 hours.
Paper Bag Method: (If you don't have a pan big enough.)
Roll the top of the bag down and place the whole thing on a large cookie sheet.
Place the bag on the cookie sheet into the preheated oven. Make sure that the top of the bag is at least a few inches away from the top oven element.
Bake for three hours, shaking the bag every 30 minutes.
Baking times are very flexible. You can shake and mix it every 30-60 minutes and it will be fine. Just make sure to bake it for at least 3 hours.To make things easier when using the paper bag method, I prepare two bags - one full and one empty. Then every half hour, I just take the hot mixture out of the oven on the cookie sheet, pour it from the full bag to the empty one on the counter, and then put the (new) full one back in the oven. That way, the mix at the very bottom gets stirred, and I never have a clump of mix that doesn't get stirred. If you do a half-batch, you can easily make it in a large roasting pan.
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