In a bowl, mix the water, oil, and yeast. Stir in the flour. Roll into a ball, and transfer to a well-oiled bowl. Allow to rise 1 hour in a warm location, or until doubled in size.
Thoroughly grease a deep dish pizza pan. Punch down dough, and transfer to the pan. Cover dough with a cloth, and allow crust to rise 25 minutes, until puffy.
Preheat oven to 450 degrees F (230 degrees C).
In a saucepan over low heat, mix the cream, butter, and cream cheese, stirring constantly, until melted and well-blended. Mix in Parmesan cheese and garlic powder. Continue to cook and stir 15 minutes, or until Parmesan is lightly browned. Spread over the pizza crust. Top with mozzarella cheese.
Bake 35 minutes in the preheated oven, until crust is lightly browned.