Homemade Pancake Syrup

Homemade Pancake Syrup (from A Little Bit Crunchy A Little Bit Rock and Roll)

3 cups sugar
1 1/2 cup water
3 Tablespoons molasses

Bring this mixture to a boil for about 10 minutes until it reduces slightly.  (It will continue to thicken as it cools.)

Off heat add:
1 teaspoon vanilla extract
1 teaspoon maple extract