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Using a Teflon pan- place olive oil in the pan and when it is hot add rice -- fry until nicely brown.
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Reduce heat -- add bell pepper, onion, garlic and continue to sauté. After about 5 minutes or so add water, tomato ,chili powder and salt.
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Place lid on skillet and turn heat down, simmer gently.
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When the water has all evaporated-10-15 min later- slide the lid off of the skillet about half way so the steam will escape so your rice is not wet.
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(While rice is simmering check it to see if you need a little more water. I don't add much water as I don't like my rice mushy and keep in mind that the veggies added have moisture as well---be sure to taste it before serving -- I actually add more chili powder than this as I like mine spicy).
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Serve.