Heat large stock pot or dutch oven over medium heat.
Add olive oil, and then add in onions, garlic and chopped jalapeno and salt and pepper. Saute until onions are translucent, about 1 and a half minutes.
Stir in remaining ingredients, bring to boil, reduce heat to low and simmer 15 to 20 minutes.
Taste and adjust seasoning as needed.
Garnish and serve with a squeeze of lime and tortilla chips.