Best Chili Ever! - cooking recipe

Ingredients

1 teaspoon oil (I prefer olive)
1 1/2 lbs lean ground beef (90% really tastes the best in this)
1 1/2 cups onions, coarsely chopped (I use vidalia or spanish)
1 small yellow bell pepper, coarsely chopped
1 small red bell pepper, coarsely chopped
2 -3 tablespoons chili powder (more to taste if you like a good KICK!)
2 (6 ounce) cans tomato paste
1 teaspoon ground cumin
1/8 teaspoon unsweetened baking cocoa
1/8 teaspoon ground cinnamon
2 teaspoons fennel seeds
2 teaspoons red pepper flakes (more to taste if you like it very hot!)
2 lbs beans (I use dark red kidney and pink beans or light red kidney beans, 15 to 16 ounces each can, drained an)
8 ounces green chilies, canned, chopped & undrained (4 ounces each)
3 cups water

Preparation

In a very large, deep pre-heated skillet, add olive oil, then add chopped onions and peppers. I also add a little bit of water to the pan (maybe tablespoon or two); cover and cook on medium-low heat, just until onions and peppers begin to sweat. Uncover and add ground beef, using spatula to break up chunks of meat. Cover and cook on low heat until meat is cooked through, about 20 minutes or so (I add a little water during the cooking process). While the meat is cooking, I add the chili powder. I start with 1 Tbsp., and add as I go.
Once the meat is browned, add the tomato paste, stirring to incorporate completely (I also add more water at this point, enough to make it start looking like chili, a nice, thick chili). Cover and cook on lower heat (slow simmer) for 30 minutes.
Add the 5 ingredients, stir to incorporate, cover and cook on low (at a slow simmer) for another 60 minutes.
Add beans and green chiles (including the \"juice\"), stirring to incorporate. At this point, add more water if you need to do so. Cover and cook on low (slow simmer) for another 40 minutes.
Total cooking time is about 2-1/2 to 3 hours on stovetop. I know this sounds like a long time, but it really needs that much time to simmer and let the flavors blend.
Serve with chopped red onion, sour cream, hot sauce, and shredded cheddar, colby and/or Jack cheese(s).