Add oil to pot (enough to coat bottom - about 1 cm). Chop onion and add to pot. Saute enough to soften onion. Add 2 cans tomato paste and saute about 2 minutes. Add 2 cans of water (with tomato paste cans). Add tomato juice. Sprinkle with salt, pepper, basil and garlic salt. Bring to a boil. Add cooked ground beef. Turn down and simmer for about 6 hours.