Add 1/4 cup of bacon drippings to a 12-inch skillet and heat over medium heat.
When the drippings shimmer, add the potatoes (2 to 2 ½ pounds), onion (1 cup), and red pepper (½ cup). Add the salt (1 ½ teaspoon), black pepper (1 teaspoon), and garlic powder (1 teaspoon) and toss to evenly coat.
Over medium heat, cover the skillet tightly, and cook undisturbed for 10 minutes.
Remove the lid and turn the vegetables. Add more bacon drippings or vegetable oil (I generally add another 1/4 cup at this time). Continue to cook for another 10-12 minutes. Flip the potatoes and continue to cook until most of the potatoes are golden brown, and all are fork tender. Adjust seasoning, as needed, sprinkle with chopped thyme (1 teaspoon), and serve.
Notes
Cast Iron Skillet: I like to make these potatoes in a 12-inch cast iron skillet. I find that the way the cast iron holds the heat works best. Adjust heat as needed, you may need to lower it as the potatoes cook. If you only have a 10-inch skillet, it will work also. I don't have a tight-fitting lid for my cast iron, so I cover it completely and tightly with aluminum foil. Yes, you can use a standard skillet if that's all you have.
Bacon Drippings: When you make bacon, save the pan drippings. Let it cool until it can easily be handled. Use a sieve and drain it into a jar or secure lidded container. Or pour it into a small dish then refrigerate until solid. Scoop solid drippings into a resealable baggie. Store it in the freezer and you'll always have it on hand.
Vegetable Oil: If you're using vegetable oil, use a neutral-flavored, high-smoke point such as canola or sunflower oil.
Tossing: Make sure when you toss the potatoes with bacon grease and spices well so that the potatoes are evenly coated. This will ensure consistent flavor and better browning.
Bell Peppers: Any color of bell pepper works great in this recipe. Feel free to switch it up or use a combination.
Spices: This recipe is the perfect canvas for many different spices. Garlic powder is an absolute must! Onion powder, cumin, turmeric, thyme, or paprika (smoked, sweet, or hot!) are all wonderful additions.
Spice It Up: Add cayenne pepper to taste if you like things spicy. You can also add hot paprika.
Change The Herbs: I use whatever I have fresh in my herb garden. Parsley, chives, or rosemary are also excellent choices.
Add Bacon: I love little chunks of crumbled bacon in these potatoes. Give it try, I'm sure you'll love them this way!
Add Cheese: Add your favorite shredded cheese during the last 5-7 minutes of cooking. Cheddar or Pepper Jack are my favorites. Use 1-2 cups.
Reheating: Heat 1 tablespoon of bacon grease or vegetable oil to a shimmer. Add leftover potatoes and cook over medium until heated through. Reheating in the microwave may be tempting but the stovetop will give you better results!