Sauté bacon until almost crisp.
Remove bacon and drain on a paper towel.
Leave 2 Tbsp bacon drippings in pan and add olive oil, water, and onions. Sauté for 3 minutes.
To pan, add tomatoes, wine, garlic powder, red pepper flakes, and bacon. Sauté for 3 minutes.
Finally, add basil and simmer for 5 minutes.
Serve over pasta with freshly grated parmesan cheese.