Preheat oven to 425 degrees Fahrenheit. Rinse the potatoes and asparagus, and pat dry.
Cut the red potatoes into large bite size pieces and add to the baking sheet. Cut approximately 2 inch segments of the asparagus (spears and tender parts of the stems). Add to the baking sheet. Cut the bacon into 1" pieces and disperse them evenly around the baking sheet.
Drizzle the potato, bacon, and asparagus mixture with a little extra virgin olive oil. Add the salt, white pepper, onion powder, and garlic powder to the mixture. Mix very well. Spread the mixture around the baking sheet evenly.
Bake in the oven at 425 Fahrenheit for approximately 25-35 minutes or until the potatoes are tender when pierced with a fork. You should also start to see a little browning on the edges of the potatoes. The bacon will be browned, but still slightly floppy.
Enjoy!