Mexican Rice

One of the wrestling moms who's son who graduated last year offered this recipe to me when I commented how good her it was. She had made it every year that her son (Josh Criollos) wrestled for the annual wrestle lock in.
Ingredients
1/2 c. uncooked long grain white rice (4.5 c)
1 tbsp. vegetable oil (3 tbsp.)
2 tbsp. margarine (6 tbsp.)
1 tbsp. fresh garlic, chipped fine (3 tbsp.)
1/2 c. yellow onion, chopped 1/4" or less (1 c)
1/2 c. green bell pepper 1/4" or less (1 c.)
14.5 oz can whole tomatoes with juice (3 cans)
14.5 oz can water or chicken stock (3 cans)
1 tbsp. salt (3 tbsp.)
1 tbsp. coarse ground black pepper (3 tbsp.)
1 tbsp. cumin (3tbsp)
1 tbsp. chili power (3 tbsp.)
Directions:
Heat the oil and margarine in a large skillet. Add the rice and cook, stirring occasionally, until the rice is "browned" about 10 minutes. Add the onion, bell pepper, garlic, spices and cook for 2 minutes. Add the tomatoes that have been cut into 1/2" pieces, the tomato juice and the water. Bring to a boil, then reduce the heat and cover. Simmer for 15 minutes, stir the rice mixture, cover , and cook another 10 minutes. Remove from heat and let sit for 10 minutes before serving. Fluff with a fork.
If the cooked rice seems "dry" add 1/2 to 1 c of water , stir  and heat on low until hot. This rice is also great when mixed into a bowl of borracho beans.