Saute the oleo, onion, and fresh jalapenos until onions are tender.
Add flour and stir until it is starting to lightly brown. Stir in water and cook until it start to thicken. Add Velveeta and stir until it has melted.
Pour in 1 can of Rotel and stir until well mixed. Keep warm or serve at room temperature. Enjoy with your favorite chips.
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