Heat 2 tablespoons of extra virgin olive oil in medium pot. Then add 1 cup of chopped red onion, 4 minced garlic cloves, 1 tablespoon of chili powder and 2 teaspoons of cumin. Sauté this mixture over medium heat until the onion is soft.
Add the remaining ingredients to the pot and bring everything to a boil. Lower the heat and simmer for 20 minutes or until the vegetables are soft. You can add a little more water depending on how thick you like your chili.