Heat a heavy saucepan over medium heat add the oil, the onion a pinch of salt and pepper. Cook for 5 minutes, stirring occasionally.
Then add the garlic, bell peppers and carrots and cook for 5 to 7 minutes, until the vegetables soften, stirring several times.
Add the rest of the ingredients to the pot and stir. Bring the chili to a boil, then reduce the heat and cover and simmer for 25 minutes. Stir once or twice.
Serve with your favorite toppings!