Heat 1 tbsp canna oil over medium heat in a large soup pot or Dutch oven.
Add the onions, thyme, 1 tsp salt and drizzle 1 tbsp canna oil over the onions; lower the heat to medium low.
Cook uncovered, stirring occasionally, until the onions caramelize and turn light golden brown, about 50-60 minutes.
Add the balsamic and cook until it’s absorbed and the onions are a deeper brown, about 15 more minutes. Add the stock, water, bay leaf, remaining salt and pepper, then bring to a boil. Turn the heat to low and simmer at least 30 minutes. Remove the bay leaf before serving.