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1
Place the bacon pieces in a large saute pan or cast-iron skillet over medium-low heat.
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2
(Youre cooking the bacon over lower heat than normal to render out as much lard as possible without browning it.)
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3
While the bacon is still rendering, spoon about 1 tablespoon of the bacon fat into a separate saute pan and add the onion.
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4
Cook over medium heat for about 15 minutes, stirring often and deglazing the pan occasionally by adding just a bit of water while scraping the caramelized bits from the pan with a spatula or wooden spoon.
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5
Once the onions are a deep brown, add the balsamic vinegar, brown sugar, chile powder, allspice, pepper, and salt and cook for 2 minutes more.
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6
Add the onion mixture to the pan with the bacon, turn the heat to low, and continue to cook, stirring occasionally, until most of the moisture has been absorbed (Josh says he cooks his for 6 hours).
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7
Remove the mixture from the heat, spoon into a jar with a tight-fitting lid, and place in the refrigerator overnight or until the mixture has set to a jamlike consistency.
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8
Store in the fridge for up to 2 or 3 weeks (longer if left unopened).
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9
Use as you would any condiment, as a topping for sandwiches, or slathered liberally on burgers.
