This is my mother's recipe and the children in our family gave it it's name because Pete was her nickname, they couldn't say Marguerite. It doesn't need refrigeration like one made with butter but it taste wonderful.
Cream Crisco, oil and sugar at med. speed for 10 minutes (this is very important), add eggs one at a time, mixing well after each addition. Add salt, alternate flour and milk, ending with milk. Mix thoroughly. Bake in tube pan 1-1/2 hours.
I cut a parchment or waxed paper circle to fit the bottom of the pan, even if I'm using non-stick.