Preheat the oven to 350°F. Spray a 9x13 baking dish with cooking spray, and set aside.
In a large bowl, stir together the flour, baking soda, baking powder, cinnamon, ginger, cloves, nutmeg, and salt, set aside.
In the body of a stand mixer with the paddle attachment, cream the butter, oil, and sugar together until smooth. Add in the eggs one at a time, mixing the first fully before adding the next. Stir in the molasses.
Add the flour mixture in 3 batches, and scrape down the sides as needed.
Stir in the water until combined. Pour into the baking dish and smooth out the top.
Bake for 35-40 minutes until a toothpick inserted into the center comes out clean. Let cool completely.
While the cake is cooling, make the frosting by creaming the cream cheese and butter together until smooth.
Add the powdered sugar a little at a time until fully mixed in. Stir in the vanilla and salt. Whip on medium-high speed for 3 minutes until light and fluffy.
Frost the cake once it has cooled, and serve immediately.