In a large pot, heat the oil over medium high heat and add the chopped pepper, onion and garlic.
Season the vegetables with salt, pepper, 1 teaspoon of chili powder and 1 teaspoon of cayenne pepper and sauté until soft.
Add the ground beef, lightly season with salt and pepper and break the beef down into small pieces as it cooks.
Stir in the crushed tomatoes, beans and beef broth and re-season the chili with salt, pepper, garlic powder, onion powder, 1 teaspoon of chili powder and 1 teaspoon of cayenne pepper. (taste and add more seasoning if needed)
Bring the heat down from medium high to low and let the chili simmer for at least 30 minutes to let the flavors blend together.
Add the chili to individual serving dishes, top with shredded cheese, sour cream and green onions (if desired) and enjoy!