Sauté the vegetables. Heat the vegetable oil in a large Dutch oven over medium-high heat. Add the diced onion, green bell pepper, and jalapeños. Cook for about 6 minutes, stirring occasionally, until softened.
Cook the beef. Add the ground beef and cook, breaking it apart with a spoon, until no longer pink. Carefully drain the excess grease.
Add the garlic and spices. Reduce the heat to medium. Add the minced garlic and cook, stirring, for about 30 seconds. Stir in the garlic powder, cumin, chili powder, cayenne, oregano, salt, and black pepper.
Add the remaining ingredients. Stir in the 6 ounces of tomato paste, 1¾ cups water, diced tomatoes with green chilies and their juices, and drained and rinsed beans. Mix until the tomato paste is fully incorporated.
Simmer the chili. Bring to a gentle boil, then reduce the heat to low. Simmer uncovered for 15 minutes, stirring occasionally. For thicker chili, continue simmering for up to 35 minutes total. If it becomes too thick, stir in a little water.
Taste and serve. Taste and adjust the salt and black pepper as needed. Serve with your favorite toppings, such as shredded cheese and sour cream, with crackers or cornbread on the side.**See notes below**