Heat oil in heavy saucepan over medium-high heat. Add onions and garlic.  Saute about 8 minutes or until onions are translucent.  Add beans, taco seasoning, basil, oregano, and thyme.  Stir 2 minutes.  Mix in tomato sauce, chicken broth and tomato paste.  Simmer until thickened to desired consistency, stirring occasionally to prevent sticking, about 1 and a half hours.  Season to taste with salt and pepper.  Refrigerate until cold then reheat over low when ready to serve.