Arrange bacon slices on a baking sheet and partially cook in the oven for about 7 minutes, until the bacon is partially rendered but still pliable.
In a bowl, toss shrimp with olive oil, pepper, salt, garlic powder, and onion powder.
Wrap each shrimp with a half slice of bacon, securing with a toothpick. Place on a baking sheet and bake for another 8-10 minutes or until shrimp are pink and bacon is crisp.
Sprinkle with chopped green onions and enjoy with preferred dipping sauce.