Sanitize all work areas, cutting boards, equipment and sinks used in the preparation of this recipe.
Heat canola oil in a heavy bottom pot or rondeau over medium heat.
Add pancetta.
Cook until golden brown and the fat has rendered. Carefully remove the pancetta from the pan. Set aside.
Pour off any excess fat. Set aside.
Add onions to the pan.
Cook until caramelized and tender, adding reserved fat as needed.
Add reserved pancetta and thyme.
Cook for 2 minutes.
Remove from the heat. Pour off any excess fat.
Add balsamic vinegar. Reduce slightly. Taste and adjust seasoning as needed.
Remove from the heat. Cool completely.
Transfer to clean food storage containers. Cover, label, date and store refrigerated.
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