1/4cupoil (any flavourless kind. I used rice bran)
For the salted caramel:
First make the caramel: add ¾ cup sugar and ¼ cup water to a saucepan. Cook the sugar over a medium heat without stirring but rotating the pan if necessary, until it darkens to a deep brown colour. Keep an eye on it constantly. Once caramelized, set the pan aside and add the salt. Give it a swirl and let it cool slightly.
Toast the peanuts in a dry pan until lightly coloured on all sides. Move them around constantly to make sure they don’t burn. If using raw nuts, avoid this step.
Add the nuts to a blender or food processor. Pulse a few times until it's coarsely chopped. If you want a chunky peanut butter, take out 3 tbsp of the nuts and set aside.
Scrape down the sides with a spatula and continue to blend on a medium-high speed for 2-3 minutes. It will start to look like a thick, clumpy paste at this stage.
Repeat the process of scraping and blending until it starts to look smooth enough for your liking. The time that it takes will depend on the speed of your blender.
Once you get a smooth paste with no bits, add the retained nuts, caramel, salt, and oil. Blend again for 1-2 minutes to combine.
Transfer to a glass jar and refrigerate. Can be stored refrigerated for several weeks.