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Follow these cooking methods/directions:
Combine chili powder, brown sugar, salt, pepper, garlic powder and onion powder in a small bowl. Place ribs on a platter and rub all over with spice mixture. Cover and refrigerate for 30 minutes.
Molasses Bourbon Sauce: Meanwhile, combine molasses, bourbon, vinegar, sugar, mustard, salt and pepper in a small saucepan. Bring to a boil over medium-high heat, stirring constantly. Reduce heat and simmer, stirring often, for 4 to 5 minutes until slightly reduced. (Make ahead: sauce can be cooled, covered and refrigerated for up to 1 week.)
Fill drip pan with water and place under grill (off to one side). Preheat barbecue to low (250°F/120°C) or preheat smoker to 250°F (120°C) according to manufacturer’s directions.
Unwrap ribs. Place ribs on grill over drip pan; turn off burner under drip pan or place ribs in smoker. Close lid and cook for 3 to 3½ hours until meat is fork tender.
Carefully remove drip pan and turn barbecue burners to medium heat (350°F/180°C). Grill ribs over direct heat for 5 to 10 minutes, turning occasionally and basting often with some of the Molasses Bourbon Sauce, until well-marked and well-glazed.
Transfer to a cutting board. Cut rack into individual ribs. Serve on a platter with remaining Molasses Bourbon Sauce.