Okay don't know if this has come up before but here it goes
Is it possible to pick Oracle as "The Hero" then put her on the card so the agent get's it's own powers in addition to the ones The Dial gives Oracle

I'm not really familiar with event dials, so let me see first if I'm understanding the question correctly.
You want to select Oracle with Dial H for Hero so she gets those powers, then place her on the In Contact with Oracle card, then give the powers she got from the event dial to another character?

Assuming this is the good wording of H for Hero (don't have this one) :

"Once during a player's turn, that player can choose one of his or her characters and an event currently showing on the dial. As long as the event is showing on the dial, all of the chosen character's powers and combat values are ignored, and it is considered to possess the ability symbols and combat values and can use the standard powers indicated by the event. If damage is dealt to the character or the character is healed while it is using the powers and abilities provided by the event, the character's dial is turned appropriately. All of the character's ignored powers and values return immediately when the event no longer shows on the dial."

"IN CONTACT WITH ORACLE
Cost: 10 per character chosen
Choose two or more characters; Oracle may not be chosen.
Chosen characters are Agents.
As long as it is not the target on Mind Control, when an Agent is given an action you may choose to give one of its combat values +1 until the beginning of your next turn.
If Oracle is on your force, you may remove her from the battlefield at the beginning of the game and place her on this card. At the beginning of any of your turns, you may assign a power action to any Agent with zero or one action token and turn Oracle’s dial to any click. The Agent given the action may use any power showing on Oracle’s dial until any Agent with zero or one action token is given a power action to turn Oracle’s dial. If your last Agent is KOd while Oracle is on this card, Oracle is also KOd."

"IGNORES: Is not affected by or treats the stated property or effect as if it didn’t exist or happen."

Given all that :
- the Agent wouldn't be able to copy the powers granted by H for Hero as Oracle doesn't possess them ;
- the Agent wouldn't be able to copy Oracle's original powers as these are ignored (this one, not sure at all).

Ignoring does not the removed the power from the dial, only countering does that. Otherwise, I agree with what Drunky said.

Additionally, Oracle is placed on her card at the beginning of the game (before the first turn starts) and once she's removed from the battlefield, I don't think she can be chosen for Dial H for Hero (which is done during your turn.)

Correct and if she looses the powers granted by the dial can I still select her to give her new powers since she is still apart of my force or does being on the card mean she's no long subject to the rules of the event

Yup I know (Tombstone/Barrier vs. Pulse Wave), but I wasn't sure how that would translate in such a case (that is using an ignored power). Overthinking it, and the "complete fail" road was funnier, he he.