1) Taste the whiskey to make sure it is up to your standards. Pour 1 cup of whiskey into a saucepan and set aside the remaining whiskey. Bring the saucepan to a boil and reduce the liquid to about 2 tablespoons. Don't let the alcohol flame. Taste the unused whiskey to make sure it hasn't gone bad.
2) Add 1/2 cup of the whiskey and the other ingredients. Simmer over a low heat for 30 minutes and reduce it by about 1/3. Use it immediately or bottle it and keep it in the refrigerator for a month or more. Drink the remaining whiskey :)
2 cups Jack Daniel's Black Label or Bourbon
1 cup ketchup
1 tablespoon lemon juice
2 tablespoons Worcestershire sauce
2 tablespoons malt vinegar
4 tablespoons dark or blackstrapmolasses
1/2 teaspoon liquid smoke (optional)