Preheat oven to 400°F. In a small bowl, stir together buttermilk and oil. In a medium bowl, combine flour, baking powder, and salt.
Gradually add the milk mixture to the flour mixture and combine until well blended. Shape into a ball, place on a floured surface and knead 4 to 5 times.
Roll dough out flat and, using a cookie cutter, cut out 12 biscuits. Place 1 inch apart on a baking sheet. Bake on rack in center of oven for 12 to 15 minutes or until light brown. Serve with butter and jam.
