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1
Start by caramelizing the onions; place the onions in a skillet over medium heat with 1 tablespoon of the oil.
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2
Saute, stirring occasionally, until the onions turn a rich, deep golden brown, about 30 minutes.
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3
Next in a 1-quart or larger saucepan on medium heat, saute the shallots in the remaining 1 tablespoon oil, until translucent and the edges begin to brown.
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4
Mince the caramelized onions and to the shallots, along with the wine and vinegar.
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5
Reduce the liquid until syrupy and almost gone.
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6
Add in the cream and chipotle, and reduce the liquid until thickened, by half.
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7
Add in the lemon juice and salt and pepper to taste.
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8
Turn down the heat to the lowest setting and stir in the cold butter a little at a time until melted, then add more butter.
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9
Repeat until all of the butter has been incorporated.
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10
Turn off the heat (you do not want this mixture to come to a boil once the butter has been added) and recheck for salt and pepper.
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11
Keep the sauce in a warm place until ready to serve or store in the refrigerator for up to 2 weeks.
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12
To reheat, warm a couple tablespoons of cream in a small saucepan over low heat, and stir in the cold sauce a little bit at a time until completely incorporated (do not boil).
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13
Serve with fresh oysters.
