Over medium high heat, heat the olive oil in a frying pan. Once the oil starts to shimmer, add the onion, bell pepper, jalapeno and garlic. Cook for 5 minutes, stirring often. After 5 minutes, add the 1 ½ tsp of the Taco & Chili blend and stir to coat the pepper & onion mix and cook for 5 minutes more. Add the lime juice and scrape up any bits of pepper/onions that are stuck on the frying pan.
Cover the pan with a lid, leaving a little space to let steam escape. Lower heat to low and cook about 10 minutes more - until the onions and peppers are soft.
Remove from heat and let cool for 5 minutes and then add the fresh cilantro.