Sweat the garlic, green bell pepper, and onions in the vegetable oil over medium heat, just until tender. Add the crushed red pepper. Add the brown sugars, honey and molasses and caramelize the mixture.
Add the vinegar and let simmer for about 15 minutes.
Add the mustard, ketchup, Worcestershire sauce, water, salt, and black pepper and simmer until reduced by one-fourth.