Preheat oven to 350 F. Spread raw peanuts in a rimmed baking sheet in a single layer. Roast peanuts in a preheated oven 8 to 10 minutes or until they are lightly toasted and fragrant. Watch carefully to prevent burning. Remove from oven and let come to room temperature.
Add cooled peanuts to the bowl of a food processor. Pulse 3 to 5 times to chop peanuts, then process on low 3 to 5 minutes, stopping and scrapping down the bowl as needed. Continue to process until peanut butter is smooth. Add salt, honey and stir to combine. With food processor running, add oil to make peanut butter desired consistency (use more or less to suit personal taste). Transfer to air tight container and store in the refrigerator up to 1 month.
Note: The oil separating from the peanut butter is natural. Use a butter knife to stir the oil back into the peanut butter before using. Makes 1-1/2 cups
Crunchy Peanut Butter: Finely chop an additional 1/3 to 1/2 cup of roasted peanuts. Once peanut butter is combined, stir in chopped peanuts.
Almond Peanut Butter: Substitute 1 cup of peanuts for 1 cup of almonds.
Chocolate Peanut Butter: Increase oil to 3 tablespoons. Add 1/2 cup unsweetened cocoa powder and 1-1/2 cups of confectioner's sugar, or to taste).