Over medium heat, melt butter in a saucepan. Add vegetable oil, honey, sugar, soy sauce, and hot sauce to the melted better. Cook over the heat, whisking constantly, until sugar has dissolved. The sauce does not need to thicken (nor should it).
In a large bowl, mix together pretzels, bugles, honeycomb cereal, rice chex cereal, and corn chips. Pour sauce and sesame seeds over mixture and mix until all of the chex mix is evenly coated.
Spread the chex mix onto baking sheets in a flat, even layer. Cook for 1 hour, stirring every 15 minutes.
Store in an air-tight container + enjoy!
Notes
Do not allow the sauce to thicken over the heat; you simply want to all of the ingredients to incorporate (the sugar should dissolve).
If you do not have all of the chex mix ingredients, the inputs are truly flexible. The goal with the base is to provide a mix of salty and sweet.