Nuts & Bolts, Tex-Mex Style

Preheat oven to 250 degrees.
Mix cereals, nuts and pretzels in one very large or two small roasting pans.
Heat the remaining ingredients in a saucepan over moderate heat. Stir occasionally until small bubbles appear on bottom of pan.
Gradually pour hot, seasoned oil over cereal mixture, stirring gently to coat well.
Bake 1-1/2 to 2 hours, stirring every 15 minutes. Remove from oven and cool. Store in airtight containers.
Note that regular salted roasted peanuts may be substituted for the peanuts specified above.