Caramel Pie

Caramel Pie
From allrecipes.com and The Seaside Cookbook-Picket Fences and Pastels (I think that is the name?!)

1 (14 ounce) can sweetened condensed milk
1 (9 inch) prepared graham cracker crust
1 (12 ounce) container frozen whipped topping, thawed

In a large pot, place the can of sweetened condensed milk with the label taken off, in the pot and cover with water. Cook on high until water comes to a boil, then turn on medium/high for 4 hours, only adding water to keep the can covered.
Carefully open can and pour into pie shell. Cool pie in refrigerator. When completely cooled, top with frozen whipped topping.

Makes 10 servings

NOTE: This recipe is wonderful for making a homemade dulce de leche that is a fraction of the price of those in the store. Need to keep an eye on the can and make sure it is always covered with water. Also, I put an inexpensive dishtowel in the bottom of my pot and then place the can on top of that to prevent scarring of my pan.