Set aside 1 jalapeno pepper. Cut the stems off the rest; slice in half lengthwise, and remove the seeds.
Place all of the peppers in a large pot of boiling water. Boil peppers about 15 minutes. Reserve about 2 tablespoons of boiling water, and drain the rest.
Cut the stem off the remaining whole pepper, and place all of the the peppers into a blender. Pour in reserved water and canola oil, and season with salt and pepper. Blend until smooth and creamy. Serve hot or chilled.
