Brown ground beef in large pot, drain excess grease. Set aside.
Using the same pot, heat the butter and oil, add bell pepper, onions and garlic and cook until the pepper is softened, about 6 minutes. Put the ground beef back in the pot.
Add the kidney beans, tomato paste, Ro-Tel, diced tomatoes and chili seasoning. Stir to combine.
Slowly add in the tomato juice. Bring to a boil. Cover and reduce heat. Simmer on low heat for at least 4 hours, up to 8 hours. Serve with your favorite toppings.