Combine the sugar, 1 tablespoon of the oil, the salt and pepper in a small bowl; set aside.
Combine the remaining 1 tablespoon oil and the popcorn kernels in a large pot set over medium-high heat. Cover and shake the pan occasionally until the popping stops, 4 to 5 minutes. Transfer the popcorn to a bowl.
Add the sugar mixture to the hot pot, reduce the heat to medium and cook, stirring, until the mixture become nearly liquid, about 1 minute. Remove the pot from the heat, stir the popcorn back in, and toss until the popcorn is evenly coated, about 2 minutes, then serve.
Store this popcorn for up to 3 days in an airtight container.
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