Heat the oil in a large, heavy pot over medium-high heat. Add the meat and stir with a long-handled wooden spoon to break up the pieces. Cook, stirring, until the meat is brown and cooked through, about 5 minutes.

Add the onion, green bell pepper, garlic, chili powder, Essence, salt, cumin, oregano, and cayenne, and cook, stirring, until soft, about 4 minutes. Put the whole tomatoes in a large mixing bowl and squeeze them with your hands to break them into pieces. Add the squeezed tomatoes and their juices, the tomato paste, sugar, and water to the pot. Stir well and bring to a boil. Lower the heat to medium-low and simmer, uncovered, for 30 minutes, stirring occasionally to prevent the chili from sticking to the bottom of the pot. Remove the pot from the heat, ladle into a large bowl and swirl the Chili con Queso into the middle. Serve immediately with tortilla chips for dipping.