1. In a heavy medium sized pot, heat oil on medium heat. Add onions, peppers and garlic and saute until soft
2. Add rice, beans, water, cumin, bay leaf, oregano and salt and pepper.
3. Simmer on medium-low heat, stirring occasionally, until the rice absorbs most of the water and just barely skims the top of the rice.
4. Cover, reduce heat to low, and simmer 20 minute (don't peek). Make sure you have a good seal on your cover, the steam cooks the rice. After 20 minutes, shut flame off and let it sit, covered another 5 minutes (don't open the lid)