In a medium saucepan over medium heat- add canola oil and onion. Sautee until translucent, about 4 minutes. Add garlic and cook 2 minutes.
Add ketchup, honey, tomato paste, vinegar, brown sugar, worcestershire, dry mustard, cayenne and black pepper. Whisk. bring to a simmer. Add water and whisk.
Add about 3 TBS of the rub, stir well and taste. Sauce should have a good, well-rounded flavor. Add more rub in 1 TBS increments if desired. Cool and store in an airtight container in the fridge for up to 10 days.