Place oil in large, heavy-bottomed pot (with a lid). Add about 3 popcorn kernels.
Heat over medium-high heat until a kernel pops. Add remaining popcorn; cover.
Once corn begins to pop, shake pot constantly over heat.
When popping slows, remove pot from heat and transfer popcorn to a large bowl.
Place nutritional yeast and garlic powder in small bowl. Slowly add 1/2 teaspoon of the cayenne pepper sauce, a few drops at a time, stirring with fork to blend it very well.
Melt butter and mix in remaining ½ teaspoon of cayenne pepper sauce. Pour mixture over popcorn, and toss.
Sprinkle nutritional yeast mixture over popcorn and toss to distribute evenly.
Add salt to taste. If you like an even hotter and spicier taste, sprinkle on a dried cayenne pepper spice blend to taste.
Serve immediately or store in an airtight container.
