Dry age the rib roast: Place the roast in roasting pan (bone side down) on multiple layers of paper towels and place back of the bottom shelf of the refrigerator uncovered for 3-5 days. Meat should appear somewhat dark and leathery on the outside.
Remove roast from refrigerator and allow to warm at room temperature, approximately 1 hour. Pre heat oven to 250º.
Combine the olive oil, garlic, rosemary, thyme, pepper and salt. Grind this to a paste in a mortar on small bowl. Rub the roast thoroughly with the paste, working it into any exposed crevices. Place roast in your heaviest roasting pan, bone side down. Insert a probe thermometer into the center of the roast and it to 120º. Cook until alarm sounds, approximately 4 hours.
Remove roast from oven and loosely cover with foil. Set oven temperature to 500 degrees. Place roast back in oven for 15 minutes or until thoroughly browned. Remove from oven and pan, place on serving plate and lightly cover with foil. Do not discard dripping.
Balsamic Pan Jus:
Place roasting pan over medium to high flame on your stove. Add water and consomme to pan. With a wooden spoon rub any brown pieces and pan dripppings from the bottom of the pan into the liquid. Reduce heat to medium and heat for 2 minutes. Add vinegar, cut the heat and allow pan to cool. Skim the fat from the liquid, and whisk in the butter to finish.
Carve the roast into desired portions between the bones nad serve with sauce.