Heat a Dutch oven then add oil. Saute onions in oil until tender, about 5 minutes.
Add garlic and continue cooking a couple of minutes, stirring, being careful not to burn garlic.
Add tomato paste, whisking it with the onions. It will be thick, but cook, whisking occasionally for 2 to 3 minutes. When the mixture starts to brown on the bottom of the pan, add the water. Whisk to deglaze the pan.
Add chili powder, cumin, salt, pepper, garlic powder and hot sauce. Whisk until smooth.
Add the ground beef, breakin up with the whisk. Whisk the meat into the liquid mixture. Once the mixture is uniformly combined, bring to a low boil.
Cover and simmer for 20 to 30 minutes, over low heat, stirring occasionally.
Remove the lid and continue simmering, uncovered, for 30 minutes, or until chili has reach the desired thickness.
Serve immediately or keep warm until ready to serve.
