Melt the butter with the vegetable oil in a large stock pot over medium high heat. Cook the bell peppers, onions and garlic for about 5 minutes.
Sprinkle the chili powder, cumin, coriander and cinnamon over the vegetables and cook, stirring occasionally for another 5 minutes or until the vegetables begin to soften.
Add the beans, enchilada sauce and bottle of beer and season with kosher salt. Bring to a boil, then reduce to simmer cover with a lid and cook for 1 hour, stirring occasionally.
Remove the cover, stir and cook for 1 more hour. Add ¼ to ½ cup water if the chili gets too thick, stir and simmer.