Slice bacon into small bite-size pieces. Fry them until crisp in a deep pan. Set bacon aside. Dispose of bacon fat but keep the residue on the pan.
Chop green onions thinly.
Add white rice to same pan over medium heat and keep stirring until golden. (otherwise it will burn.) Do not cover rice while cooking.
Once rice is golden, add the chopped green onions and stir together for a couple of minutes.
Add bacon and stir for another 2 minutes.
Add water and soy sauce. Stir and bring to a boil.
Reduce the heat and allow to simmer for 20 minutes or until water is gone. Stick a fork all the way down and part it to see if theres any water left. If no water is left, taste to see if rice tastes done.