Heat the olive oil in a large skillet over medium heat. Add the lean ground beef and use a spatula to press it into an even, flat layer. Cook until the beef is browned on the bottom.
Incorporate the chopped onion, green bell pepper, jalapeño, and minced garlic. Add onion powder, cumin, oregano, salt, and black pepper. Cook for about 5 minutes
Lower the heat, cover, and let it simmer for 15-20 minutes, or until the rice becomes tender and most of the liquid has been absorbed. Adjust salt and other seasonings as necessary.