In a large saucepan or pot, heat the olive oil over medium heat. Add the onions, reduce the heat to low and cook, stirring occasionally, until they have softened and become lightly browned (about 15 minutes). Add the bell peppers and jalapeños and cook, stirring occasionally, about 5 minutes longer. Add the garlic and cook, stirring constantly, for about 1 minute, being careful not to let it brown.
Increase the heat to medium-high. Add the ground sirloin, chili powder, cumin and basil; cook until the beef is brown all over (5 to 7 minutes). Break the beef into small pieces as it cooks. Spoon out the excess fat and discard. Stir in the broth, tomatoes, beans Worcestershire sauce, tomato paste, bay leaves, salt, pepper and crushed red pepper; bring to a low boil. Reduce the heat to low; simmer for 45 minutes to 1 hour so that the flavors meld and the liquid reduces a bit and thickens slightly.
Serve warm. Top with shredded cheese and sour cream, if desired.
Notes
This recipe is gluten-free adaptable- just be sure to use GF brands of broth, beans and worcestershire sauce.
Be sure to wear gloves when you are cutting the jalapenos. If not, you will need to wash your hands thoroughly (several times) to rid your fingers of the "spice."
To drain off excess fat from the meat, I like to tip the pan and let the grease puddle in one spot. Take a bunch of paper towels and let them soak up the fat. Discard paper towels.
This chili will keep in an airtight container for up to 3 days. It also freezes well.