Basic Barbecue Sauce

INGREDIENTS

• 2 Tbs. olive oil
• 2 Tbs. unsalted butter
• 1 small sweet onion, diced
• 2 Tbs. water
• Salt and freshly ground pepper, to taste
• 2 Tbs. firmly packed light brown sugar
• 1 tsp. chili powder
• 1 tsp. ground cumin
• 1 1/2 cups tomato ketchup
• 1/2 cup prepared barbecue sauce
• 2 Tbs. molasses
• 1 Tbs. Worcestershire sauce