1. Preheat the oven to 325°F
2. Lightly grease a cookie sheet with oil.
3. To the peanuts, add oil, chili powder and salt.
4. Toss the nuts with your hand to coat well and then spread on the cookie sheet.
5. Roast in the oven for 25 minutes, stirring occasionally
6. Remove from the oven and transfer the nuts onto a waxed paper to cool and harden.
7. Once cooled completely, store in an airtight container, lined with waxed paper, in a cool dry place.
7. This makes a wonderful snack and a great accompaniment for alcoholic drinks.