In a small bowl, stir together the chili powder, salt, cumin, oregano, and cayenne. Set aside.
Heat the oil in a medium skillet over high heat. Once hot and shimmering, add the popcorn kernels. Shake and shift the pan so that the kernels are in a flat, even layer.
Cover the pan and let the kernels cook until the time between pops is 3 to 4 seconds, shaking the pan every 20 seconds or so to keep the kernels from burning. The popcorn should cook in about 3 minutes.
Uncover the popcorn and pour into a serving bowl. Immediately drizzle with the melted butter, then sprinkle with the spice mixture, lime zest, and nutritional yeast. Toss to combine. Taste and add additional salt as desired.
*Nutritional yeast can be found in the health food section of many grocery stores or online. In addition to offering a wealth of vitamins, minerals, and protein, nutritional yeast adds a lightly salty, “cheesy” flavor to dishes. If you prefer not to purchase it, you can simply omit it or swap finely grated Parmesan cheese.
TO STORE: Store leftovers in an airtight container at room temperature for up to 3 days.