Heat oil in a large pot. Saute onion and garlic until onions are translucent. Place chopped collard greens in pot, and add water to cover. Stir in brown sugar, molasses and liquid smoke. Season with salt and pepper. Bring to a boil, reduce heat, and simmer 30 to 40 minutes, or until greens are tender.
Liquid smoke is produced by burning hickory chips, then condensing the smoke into a liquid form. The liquid is then filtered to remove all impurities. You can find it in most grocery stores in the section with the barbeque sauce and steak sauce. Some brands are more concentrated than others, so use sparingly, and season to taste.
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