Preheat oven to 350 degrees F (175 degrees C). Lightly grease two 8x4 inch loaf pans.
In large mixing bowl combine oil, sugar and eggs, beat well. Stir in pears, pecans and vanilla. In another bowl, combine flour, baking soda, baking powder, salt, cinnamon and nutmeg. Stir dry ingredients into the pear mixture; mix well. Pour batter into prepared loaf pans
Bake in preheated oven for 60 minutes, until a toothpick inserted into center of a loaf comes out clean. Allow loaves to cool in pans for 10 minutes before moving to a wire rack to cool completely.