In a large, non stick, stock pot heat olive oil. Sauté jalapeño pepper, onions, and red and yellow peppers over medium heat until onions are translucent - 5 to 8 minutes). Add the remaining ingredients and slowly bring to a boil.
Cover pot and simmer on low heat for 20 minutes. Serve hot.
Chili tastes best when allowed to sit overnight. Refrigerate chili in covered pot overnight. Bring to a boil over a low heat, stirring constantly
Variation: If hot chili is preferred, increase the ground cayenne red pepper to 1 teaspoon, and increase the chili powder to 7 teaspoons. If sweeter chili is preferred, increase Splenda® to 2/3 cup
Servings: 16