1. Over medium-high heat brown the ground beef.
2. Remove beef from pan and drain.
3. Add the vegetable oil to the pan, onions, red and green bell pepper, jalapeno, garlic and cook over medium heat until onions are translucent, about 5 minutes.
4. Add the chili powder, cumin, and cayenne pepper and cook an additional 2-3 minutes until the spices began to darken.
5. Add the tomatoes, chicken broth, pinto beans to pot, stirring well.
6. Add the ground beef and continue to cook for one hour over medium-low heat, occasionally stirring.
7. Serve with sour cream and cheddar cheese.