Place enough salt and chili powder in a wide, shallow dish to cover the bottom.
Rub the rims of two glasses with the reserved lime rinds and dip them into the salt.
Fill the glasses with ice and set aside.
Place Clamato juice, lime juice, beer, Worcestershire sauce, hot sauce, and soy sauce in a pitcher and mix well.
Pour into the prepared glasses, top with a few grinds of freshly ground black pepper, and serve.
Notes
You don't have to mix it. You can pour everything but the beer in first, then top with beer, as I have done with the photo. Then your guests can mix as desired. Also, you can make a Michelada without tomato juice or Clamato juice.