In a large Dutch oven, heat 2 tablespoons vegetable oil over medium-high heat. Brown half of the beef (about 10 minutes); remove to a plate. Repeat with the remaining beef; remove to a plate. Drain off the excess liquid and fat, but leave the browned bits in the bottom of the Dutch oven.
Add 1 more tablespoon of vegetable oil to the pot and heat over medium heat until shimmering. Stir in the onion and jalapeño pepper (if using), cooking until the onions are softened, about 5 minutes. Add the garlic, chili powder, cumin and oregano; cook and stir until fragrant (about 30 seconds). Stir in the broth, scraping up any browned bits from the bottom of the pot. Return the browned beef to the pot, and stir in the crushed tomatoes, tomato paste, and sugar.
Bring the chili to a boil, then reduce the heat to low. Simmer over very low heat for a total of about 3-3 ½ hours (or until beef is fall-apart tender). I prefer to simmer the chili uncovered for the first two hours so that it’s nice and thick, and then put the cover on the pot for the last hour or so. Stir the pot occasionally as it simmers, and add more broth to thin to desired consistency (if necessary).
Stir in lime juice just before serving and garnish with optional toppings.
Notes
Use diced boneless chuck roast or beef stew meat for this recipe. Either option will work well!
Brown the meat first for more flavor. You'll need to do this in batches so that you don't overcrowd the pan and end up steaming the meat. The caramelized surface of the beef lends a rich flavor to the finished chili.
Add jalapeño to the stew for added spice. I typically leave it out when I know that my kids will eat the stew, because the stew is already quite zesty on its own. You can use other hot chili peppers if you prefer.
Don't omit the sugar. It might seem odd, but the sugar helps balance the acidity of the tomatoes in the chili, creating a richer, multi-dimensional tomato flavor. It doesn't make the chili taste sweet!
Stir the pot occasionally as the chili simmers to prevent the bottom from scorching. Add extra broth or water, if necessary, to thin the chili to your desired consistency. You can also cover the pot during the final hour to trap some of the liquid if it looks like the chili is getting too thick.