Heat the oil and butter over medium heat until the butter melts.
Add the onion and garlic. Sauté for 1-2 minutes or until softened and fragrant.
Toss in the jalapeno and continue to sauté for 1-2 minutes.
Pour the bourbon into the saucepan, carefully light it with a torch, and wait until the flames dissipate to cook off the alcohol.
Stir in the brown sugar, followed by the ketchup, crushed red pepper, and apple cider vinegar.
Bring to a boil, add the blueberries, reduce to a simmer, and simmer uncovered for 10 minutes.
Use a hand mixer or immersion blender to break down the blueberries. The sauce does not have to be super smooth.
Return the sauce to a simmer and simmer for another 10 minutes to thicken up.
Remove from the heat and use as desired.