Pour the beans into a fine mash strainer and let them drain off while preparing bacon and vegetables.
Dice cold bacon and vegetables into small pieces. (It's easier to dice raw bacon when it's cold.)
Prepare the beans:
Preheat a cast iron skillet (or another pan that can go from stove-top to the smoker) over medium-high heat.
Add canola oil and bacon and sauté it until most of the fat is rendered.
Add diced onion, bell peppers, and jalapenos and cook until completely done. Don't' stir it too often to give the bottom a chance to get browned. That's where the flavor is!
Once vegetables are done, add drained beans and mix well.
Whisk together all the ingredients for the sauce and pour it into the skillet with the beans. Mix well.
Prepare the smoker:
Set up your smoker and get it to a steady 225°. Place a water pan either on the grate below or next to it, depending on your smoker and your smoker set-up. If you’re using a charcoal or wood smoker, maintain the temperature no lower than 225° and no higher than 240°.
Smoke the beans:
Place the skillet with the beans onto the smoker and let it cook for 2-3 hours.