To make the dry rub, whisk together the paprika, dried oregano, dried thyme, garlic powder, chili powder, salt and pepper in a small bowl. Set aside.

Preheat the oven to 375 degrees F. Pour out and save 1/3 of the beer from the can. Discard the giblets and neck from inside the chicken's cavity. Fit the whole cavity of the chicken over the can of beer with the legs on the bottom. Place in the center of a cast iron pan or baking dish. Slather the entire chicken with the dry rub. Scatter the cut onions on the bottom of the pan, around the beer can and drizzle some olive oil over the onions.

Bake the chicken for about 45 minutes and then pour a few tablespoons of the remaining beer in the bottom of the pan, under the chicken. Bake for another 20-30 minutes or until an instant-read thermometer inserted into the thickest part of the thigh reads 165 degrees F. Remove the chicken from the pan and and discard the beer can. Cover the chicken with aluminum foil and let it rest for about 10 minutes before slicing and serving.