Fry the pork: Get out a large thick-walled pot and melt the lard in it. Then add the chunks of pork meat and let them fry undisturbed for 10 to 15 minutes. Then stir and flip the chunks of pork and let them fry again for another 10 to 15 minutes. At this point, you should notice that some of the pork is starting to brown up a little.
Add the remaining ingredients: Reduce the heat to medium-low. Then squeeze the juice of the orange into the pot and toss in the rinds. Next toss in the garlic, bay leaves, oregano, and salt. And finally pour in the evaporated milk, coca-cola, and water and mix everything together. Now at this point, I should note that everything will look pretty gross, but trust me this is going to turn out amazing.
Let everything simmer for 2 to 3 hours or until the chunks of pork are easily pierces by a fork.
Pull & Chop up the meat: Remove the chunks of pork from the pot and place them on a cutting board. At this point, you have two options. You can painstakingly to pull apart all of the pieces of the pork into shreds. Or you can simply use a knife to cut it up into small pieces. I prefer to use the knife method because the meat should be tender enough that it falls apart and shreds itself under the pressure of the knife.
(optional) Fry up the carnitas for texture: At this point, the carnitas meat is ready to eat. But if you want a little bit of crunchy texture then I recommend you pan fry them real quick. To do this simply get out a pan, toss in the carnitas meat and cook over medium-high heat for a couple of minutes.
Plate up your pork carnitas with some rice and beans or do as I do and use the meat to make wonderful carnitas tacos. Enjoy!