Add oil and butter to a large saucepan.
Place pan over medium high heat.
When oil and butter are hot, add onions. Sauté until onions are caramelized, about 40 minutes.
In a bowl toss together apples and lemon juice, until well coated.
Add to saucepan of caramelized onions. Increase heat to high. Cook for 10 minutes or until apples are brown.
Add cayenne pepper and honey. Mix thoroughly.
Add wine. Cook and reduce for 20 minutes.
Taste. Add salt and pepper, to taste.
Can be done in advance. Store in a tightly sealed container, in the refrigerator, until ready to serve. Warm before serving.