In a medium saucepan over medium heat, cook bacon until crispy. While the bacon is cooking, line a plate with a paper towel.
Place the cooked bacon onto the lined plate. Set aside.
Leave about 4 tablespoons of bacon grease in the pan, carefully removing the rest.
To the pan, add the onion and diced shallots. Reduce the heat to medium-low. Cook until the onions are caramelized, 15-20 minutes, stirring often.
Mix in the garlic, brown sugar, maple syrup, apple cider vinegar, chili powder, and pieces of cooked bacon.
Remove the pan from heat and add the whiskey. Stir well. Place the pan back on the heat.
Simmer for 10-12 minutes, or until the mixture has thickened. It should be about the consistency of a jam.
Serve warm or at room temperature, but you may want to warm it slightly if it has been refrigerated.
