1. Heat oil in a medium-sized saucepan over medium heat. Add onion and sauté for about four minutes, until softened and beginning to turn golden.
2. Add dry rice and continue sauteing over low heat, stirring frequently, for five minutes.
3. Add two cups water, tomato sauce, peas, carrot, salt, garlic powder, and parsley. Bring to a boil, then reduce heat to low and cover. Simmer 40 to 50 minutes, until rice is tender and liquid is absorbed.
4. Remove from heat and let sit, still covered, for 10 minutes. Fluff with a fork before serving.