Cover the bottom of a large skillet with about ½ inch of the canola oil. Heat the oil over medium-high heat. When the oil is hot, add the potatoes and fry until golden and cooked through, about 10 minutes. Stir frequently to brown on all sides.
Remove the potatoes from the skillet and place them on a pan or plate lined with a paper-towel to drain. Sprinkle with a pinch of salt.
Heat the olive oil in a large, deep, non-stick skillet over medium heat. Add the onions and carrots to the skillet. Cook the vegetables for 5 minutes until the onions are translucent, stirring frequently.
Add the garlic, stir well to combine. Cook 1 minute, stirring frequently.
Raise the heat to medium-high, add the ground beef, 1 teaspoon salt, oregano, cumin and black pepper. Stir well while breaking up the meat using a wooden spoon or a spatula. Cook the beef for about 5 minutes to brown, stirring occasionally.
Add the white wine and cook for 1-2 minutes until most of the liquid evaporates.
Lower the heat to medium-low and add the tomato sauce, water and olives, stir to combine.
Cover the picadillo and cook for 10 minutes, stirring occasionally. Keep the picadillo at a simmer, if the liquid is boiling vigorously, lower the heat a bit.
Lower the heat to low and add the potatoes to the picadillo, cover and cook another 10-15 minutes to allow the flavors to develop and combine, stirring occasionally.
Taste the picadillo and add salt, if needed. As a reference we did not add extra salt to ours.