Dice the onion and bell pepper. Mince the garlic.
Toast chili powder, cumin, cayenne, garlic powder, onion powder, and black pepper in your chili pot over medium-low heat until fragrant, about 2-4 minutes.
Add the olive oil, onion, garlic, bell pepper, and salt to your pot.
Stir together and cook until peppers and onions have softened, about 4-6 minutes.
Add the tomato paste, diced tomatoes with juices, diced green chiles with juices, molasses, and water. Stir and simmer for about 5 minutes.
Add kidney beans, black beans, pinto beans, and strained can of corn. Stir together and simmer the chili for about 20-25 minutes, covered. Your chili is done when all of the vegetables are tender.
