If the onions are sizzling or scorching in step 2, reduce the heat. If the onions are not browning after 15 to 20 minutes, raise the heat.

1 tsp. unsalted butter
1 tsp. vegetable oil
1 tsp. light brown sugar
½ tsp. salt
2 pounds onions, halved and sliced pole to pole into 1/4-inch-thick pieces
1 tsp. water
Pepper

Heat butter and oil in 12-inch nonstick skillet over high heat and stir in sugar and salt. Add onions and stir to coat. Cook, stirring occasionally, until onions begin to soften and release some moisture, about 5 minutes. Reduce heat to medium and cook, stirring frequently, until onions are deeply browned and slightly sticky, about 40 minutes longer. Off heat, stir in water. Season with pepper to taste. (Onions can be refrigerated for up to 1 week.)