Walter McIlhenny's chili

Courtesy of Peppers, a hot sauce haven in Rehoboth Beach, DE 
1/4 cup vegetable oil
3 pounds lean beef chuck, well trimmed, cut into 1-inch cubes.
1 cup chopped onion
3 garlic cloves, minced
3 tablespoons chili powder
2 teaspoons ground cumin
2 teaspoons salt
2 teaspoons McIlhenny's Tabasco Red Pepper Sauce
3 cups water
1 4-ounce can chopped green chilies, drained, cooked rice
Chopped onion, shredded cheese, and sour cream (optional)

In a 5-quart Dutch oven or heavy saucepan, heat the oil over medium-high heat.  In three batches, brown the beef well, removing each batch with a slotted spoon.  Set aside.  Add the onion and garlic to the pot and cook for 5 minutes, or until tender, stirring frequently.  Stir in the chili powder, cumin, salt, and Tabasco Red Pepper Sauce, and cook for 1 minute.  Add the water and chilies and bring to a boil.  Return the beef to the pot.  Reduce the heat and simmer, uncovered, 1 1/2 hours, or until the beef is tender. Serve the chili over rice with onion, cheese, and sour cream, if desired. uncovered, 1 1/2 hours, or until the beef is tender.  Serve the chili over rice with onion, cheese, and sour cream, if desired.