Pan roast jalapeño on both sides, until softened and blistered. Peel off the skin. Set aside.
Boil carrots and potatoes until cooked. Drain and add to a blender, along with the jalapeño, seasonings, nutritional yeast, oil, and water. Blend until smooth and creamy. Serve with tortilla chips for dipping, on nachos, or on veggie fries!