Heat the olive oil in a medium pot over medium-high heat.
Add the diced yellow onion and green bell pepper, sautéing for 3-4 minutes until the vegetables begin to soften.
Add the ground beef to the pot, breaking it apart with a wooden spoon, and cook until browned and no longer pink.
Stir in the chili powder, ground cumin, garlic powder, sea salt, and black pepper, coating the meat and vegetables evenly to toast the spices.
Pour in the crushed tomatoes, rinsed kidney beans, and water, stirring well to combine.
Bring the mixture to a gentle boil, then reduce the heat to low and cover with a lid.
Simmer for 15-20 minutes to allow the flavors to meld and the chili to thicken.
Remove from heat and serve hot in a deep bowl.