Melt 1 Tbs. of the butter and 1 Tbs. of the olive oil in a 10-inch straight-sided sauté pan or Dutch oven over medium heat. Add the Canadian bacon and cook, stirring occasionally, until the bacon is brown around the edges, about 4 min. Transfer to a plate lined with paper towels.
Add the remaining 1 Tbs. butter and 1 Tbs. olive oil to the pan. Add the onion, potato, bell pepper, and 1/2 tsp. of the salt. Reduce the heat to medium low, cover, and cook, stirring frequently, until the onions and peppers are well softened and the potatoes are barely tender and starting to brown, 5 to 7 min.
Uncover, increase the heat to medium, and add the corn, garlic, and the remaining 1/2 tsp. salt. Sauté, stirring frequently and scraping the bottom of the pan with a wooden spoon, until the corn is tender but still slightly toothy to the bite, 3 to 5 min. (The corn should be glistening, brighter in color, and somewhat shrunken in size, and the bottom of the pan will be slightly brown.)
Remove the pan from the heat, add the parsley, chives, Tabasco, a few generous grinds of pepper, and a small squeeze of lemon. Stir, let sit 2 min., and stir again, scraping up the brown bits from the bottom of the pan. (Moisture released from the vegetables as they sit will loosen the bits.) Fold the Canadian bacon into the dish, season to taste with more salt, pepper, or lemon juice. Serve warm.