Preheat oven to 330˚F and prepare 3 8x2" pans with goop (see below for Goop recipe). I prefer using baking strips with all my cakes, but they are optional.
In the bowl of a stand mixer fitted with a paddle attachment cream together butter and sugar until light in color. Add eggs one at a time scraping down the bowl between each addition. Mix well between additions.
Sift together flours, baking powder and salt. Set aside.
Mix together vegetable oil, buttermilk and champagne extract and pink food color.
Add flour mixture in 3 stages and liquid mixture in 2 stages alternating, beginning and ending with the flour. Mix gently until it just comes together.
Divide equally into 3 pans and bake for 50-60 minutes, until it just begins to pull away from the sides of the pan and the center is set.
Allow to cool 10 minutes in pan then invert onto a baking rack to finish cooling.