250g ketchup
230 ml white vinegar
165g molasses (not blackstrap)
165g honey
110g brown sugar
1 tsp liquid smoke
1/2 tsp salt
1/4 tsp black pepper
1/4 tsp garlic powder
1/4 tsp onion powder
1/4 tsp chili powder or tobasco
Add all the ingredients to a medium sauce pan over medium heat.
Whisk to combine.
Bring to a low boil and reduce to a simmer, uncovered for 30 minutes for a thin sauce, 1 hour for a thicker sauce.
Store in the fridge.