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1. In a large heavy-bottom saucepan over medium heat stir together olive oil, onion, and brown sugar. Stir in sweet smoked Spanish paprika, sweet Hungarian paprika, and dry mustard.
2. When onions are soft and spices are fragrant, stir in Worcestershire sauce, cola, and Spicy hot V8 juice, ketchup, bourbon, rice vinegar, and reduced-sodium soy sauce. Bring to boiling; reduce heat to medium-low and simmer 15 minutes or until thick. Makes about 3 cups sauce.