Drain the black beans and rinse them well. Place them in a large pot and add enough water to cover them by 2 inches. Place on the stove and bring to a boil over high heat. Reduce the heat to medium and simmer for about 20 minutes or until the beans are almost soft. Drain and set aside. You can do this step and freeze the beans to make the recipe anytime or do it the day before and keep refrigerated. Beans are great for batch cooking and freezing in a Ziploc bag.
Heat the canola oil in the same pot over medium. Add the onion and cook until soft and translucent. Add the beans and 2 cups of water. Then add the spices, salt and bay leaf. Cover and bring to a boil. Reduce heat to medium and simmer for 20 minutes. Remove bay leaf before serving.
Serve over rice as part of a grain bowl and top with salsa, sourcream, cheddar cheese, guacamole, or cilantro.