Combine chili powder, cumin, garlic powder, smoked paprika, oregano, onion powder, 1/8 tsp salt and pepper, stir and set aside.
Place oil, 1/2 tsp salt, and popcorn kernels in a Whirley Pop or heavy bottom pan.
Over medium heat, periodically shake the pan until all kernels are popped.
Pour half of the popcorn in a bowl, sprinkle 1 tsp taco seasoning over top. Pour the other half of the popcorn in the bowl and add another teaspoon of seasoning, gently toss.
Add more seasoning if desired.