Onion Marmalade

1/4 cup olive oil
3 yellow onions peeled and sliced
1/4 cup sherry vinegar
1/2 cup balsamic vinegar
1/2 cup water
Kosher salt
White pepper
1 teaspoon sugar
1/4 teaspoon piment d’espelette pepper or hot paprika pepper

Heat the olive oil in a heavy sauce pan over medium heat.  Add the onions and saute until golden brown, about 10 minutes.  Add the rest of the ingredients and bring to a bowl.  Lower the heat and cook on a high simmer until the liquid is evaporated, about 30 minutes, maybe longer.