Place a large stock pot over medium-high heat. Pour in olive oil, and let it heat until shimmering. Add ground beef, and break it up as it browns.
Once the beef has evenly browned, add minced garlic. Saute, and continue to break up the meat, for another minute or so. Garlic should become fragrant, and start to turn golden brown.
Add onions, jalapeños, bell peppers, and seasonings. Stir to combine, and continue to sauté for another 3-5 minutes. Once all ingredients are fragrant and well combined, add tomato paste.
Stir in the tomato paste, and scrape up any brown bits that may have stuck to the bottom of the pan. Sauté for a minute or two, until all ingredients are well mixed.
Pour all remaining canned ingredients into the pot: corn, black beans, Rotel, green chiles, and tomato sauce. Stir to combine, and bring to a boil. Once boiling, reduce the heat to low and allow chili to simmer, partially covered, for at least 30 minutes. You can simmer for several hours, if you'd like, but be sure to stir occasionally.
When you're ready to eat, serve over white rice, and garnish with your favorite chili toppings. I like to keep it simple with some shredded cheese. For the full experience, serve with cornbread and honey-butter on the side.