Blair Beans and Rice

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4 ounces slab bacon, rind removed and cut into 1/4-inch dice or 5 tablespoons pure Spanish olive oil

1 medium-size onion, finely chopped

1 medium-size green bell pepper, seeded and finely chopped

2 cloves garlic, finely chopped

1 cup dried black beans, rinsed, soaked overnight, and prepared according to directions on package to yield 2 1/2 cups cooked black beans or 2 (16-ounce) cans black beans, undrained

2 cups raw converted white rice

4 1/2 cups water

2 teaspoons salt

1 bay leaf

2 tablespoons pure Spanish olive oil

1 tablespoon hot red pepper sauce (recommended: Blair's Original Death Sauce)

Freshly ground black pepper