Put olive oil, fresh ground pepper, garlic powder (or minced garlic) and onion powder (or minced onion) in large skillet, on medium high heat, brown roast in this on all sides until browned - about 10 minutes each side.
In large roast pan, add the chicken broth, when meat is browned, place the roast in the chicken broth and set aside. Add water to the skillet and the bay leaves. Heat to a boil, scraping any hardened or stuck remaining on the bottom of the pan to mix up the flavors. Pour this mixture over the roast.
Add diced carrots (I use baby carrots instead) and add to the pan, coarsely chop the onion and coarsely mice the garlic, add these to the mixture. Place in the oven at 275 for 1.5 hours, add the potatos and for an additional 2.5 hours. Increase the temperature to 425 and cook for an additional hour. Serve hot!!