In a medium saucepan, add ketchup, vinegar, molasses, brown sugar, yellow mustard, cayenne pepper, smoked paprika, garlic powder, onion powder, black pepper, salt, celery seed, Worcestershire sauce, Louisiana hot sauce, water, and cola.

Whisk all the ingredients together until fully combined. Place the saucepan over medium heat. Bring the mixture to a simmer while stirring occasionally. Reduce heat to low and let the sauce simmer gently for about 15-20 minutes.

Stir occasionally to prevent sticking and to help the flavours meld. The sauce should thicken slightly. Taste the sauce and adjust seasoning if needed add more cayenne for heat, or more brown sugar for sweetness. Remove from heat and let cool. Transfer to a clean jar or container.