Preheat oven to 350 degrees. Grease two 9x5 loaf pans.
In a large bowl, beat together the pumpkin, oil, and applesauce until well combined with an electric mixer.
In a medium bowl, whisk together the flour, granulated sugar, brown sugar, baking soda, cinnamon, nutmeg, baking powder, salt, ginger, and cloves.
Slowly mix the dry ingredients into the wet until combined.
Beat in the eggs, one at a time, until well combined.
Pour batter evenly between the two pans. Bake for 50 minutes or until a tester comes out clean.
Cool for 5 minutes before removing from the pan to a wire rack. Cool completely.
While the bread is cooling, add the butter to a small sauce pan over medium heat and let melt. Once melted, continue cooking, whisking often, until the butter foams. When the butter begins foaming, whisk constantly until the butter turns a deep golden shade. Remove from the heat and whisk in the powdered sugar.
Drizzle over the bread.