Heat the oil in a large cast iron pan, Dutch oven, or non-stick skillet over medium-high heat.
Season the short ribs with salt, pepper, garlic powder, and onion powder.
Sear each side of the ribs until they are browned, ensuring a good crust forms. Avoid moving them too much during searing.
Once all sides are browned, remove the ribs and set aside.
Prepare the Braising Liquid:
Reduce the heat to medium, and in the same pan, sauté the sliced onion until soft and translucent, about 3-4 minutes.
Add crushed garlic and cook for another minute, stirring constantly.
Pour in the red wine and beef broth, and add thyme. Stir to combine.
Let the mixture simmer for 10 minutes to develop the flavors.
Braise the Short Ribs:
Place the short ribs back into the Dutch oven, submerging them in the braising liquid.
Cover the pot with a tight-fitting lid or aluminum foil.
Let the ribs simmer on low heat for 3-4 hours, until the meat is tender.
Add the carrots during the final hour of cooking.
Prepare the Gravy:
Once the ribs are done, remove them and the carrots from the pot and set aside, keeping them warm.
Skim off the excess fat from the braising liquid.
In a small sauté pan, heat the skimmed fat and simmer it to cook off any liquid. Reduce heat to low, then whisk in the flour to create a roux. Stir continuously for about 5 minutes.
Heat the braising liquid over medium heat, allowing it to reduce for about 15-20 minutes.
Gradually whisk in the roux until the liquid thickens to a gravy-like consistency.
Add the short ribs and carrots back to the pot and serve hot.