Ok - this is best done as a set based process. A recordset deals with records on a one by one basis. So you would insert one row at a time. If we do this in a set based process, we can do it in one action. You can liken this to sugaring your tea one grain at a time, or with a sugar cube.
There are several ways to achieve this. Easiest would be to link to the Oracle table - you can then use this like you would use any table. The code now becomes:
INSERT INTO myAccessTable (col12, col2)
SELECT col1, col2