Heat oil in a large skillet. Stir in onion, green bell pepper, garlic and chili powder. Saute until tender. Add meat. Stir with wooden spoon 4 or 5 minutes, brown well until no longer red. Drain off fat and remove any oil. Add remaining ingredients and bring to a boil. Reduce heat to a simmer and continue cooking covered for 1 hour. Remove cover and cook for 30 minutes or longer to thicken. This recipe doubles and freezes well.
I personally love this chili more the next day, after the flavors have had a chance to meld.