Preheat the oven to 350 degrees F.
Heat the oil in a medium heavy saucepan or skillet over medium low heat. Saute the rice, stirring constantly, until golden brown and crackling, about 5 minutes. Add the onions and serranos and cook until the onions just soften, then add the garlic and saute until the aroma is released. Pour in the stock or water and tomato salsa, mixing well to combine. Transfer to a 4 quart baking dish or casserole. Cover with foil and bake until the liquid is absorbed and the rice is tender, 30 to 40 minutes. Stir and serve hot.
*To rinse rice Place the rice in a large bowl (not a colander) and rinse under cold running water for 5 minutes. (If you use a colander, the starch remains on the rice, leaving it sticky.)
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