Clean clams to remove sand. To a pot of boiling water, add salt, pepper and lemon wedges. Add clams and cook until shells open. Remove shells from water and chop meat into small pieces. Reserve a cup or 2 of the cooking broth.
In a food processor, finely mince jalapeno pepper, onion and garlic. In a bowl, combine jalapeno pepper, onion, garlic, clams, Tabasco sauce, salt, pepper, flour, cornmeal and baking powder. Add cooking broth or canned clam juice to mixture and stir together. Add enough liquid to form sticky balls that will hold together when dropped into the olive.
In a cast-iron or heavy-bottomed pan, heat olive oil to 350°. Use enough olive oil to cover fritters. Olive oil will shimmer but not smoke when ready. Drop balls in oil and cook until golden brown. Drain a paper towel and serve immediately with lemon and either tartar sauce or cocktail sauce. Serves 4.