Step 1: In a saucepan combine the chiles and water and bring to a boil and then simmer for 20 minutes. Remove all but 4 of the chiles from the pan and set aside.
Step 2: In a blender, combine the cooking water and the remaining 4 chipotles - add the remaining ingredients and then blend until mostly smooth and then return all to the pan. Add the reserved chiles and then simmer stirring occasionally for 20 minutes or until thickened.
Step 3: Cool and then refrigerate -- will keep for one month.
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