Notes: If making up to 3 days ahead, cover airtight and chill. Reheat in a microwave-safe dish in a microwave oven at full power (100%) for about 4 minutes, stirring halfway through.
6 tablespoons butter or margarine
3 tablespoons olive oil
3 pounds red onions, peeled and thinly sliced
About 2 cups Merlot or other dry red wine
6 tablespoons sugar
1/4 cup balsamic vinegar
How to Make It
In a 5- to 6-quart pan over medium-high heat, melt butter with olive oil. Add onions and stir often until they're limp and liquid has evaporated, 8 to 10 minutes.
Add 2 cups wine and the sugar; stir occasionally until liquid has evaporated and onions are sweet to taste and very tender, about 30 minutes. Add balsamic vinegar and salt to taste; stir often until flavors are blended, about 5 minutes. Serve warm.