Preheat oven to 400 degrees F. Line a baking sheet with parchment paper or foil. Brush with 1 tablespoon of the oil; set aside. Cut potatoes into sticks or wedges. In a large bowl toss potatoes with remaining olive oil, chili powder, salt, and pepper. Arrange potatoes in a single layer on prepared baking sheet. Bake for 40 to 45 minutes or until browned and tender, turning twice. Allow to cool slightly on the baking sheet on a wire rack before serving.