Coat your Dutch Oven or stock pot with olive oil and warm on medium heat.
Start with the carrots and sauté your vegetables. Add in one vegetable at a time until they are all sautéed while stirring.
After all the vegetables are added, slowly add the water, tomato paste, bay leaves, basil, salt, black pepper and crushed red pepper.
Stir, cover and turn heat to low-medium. Let simmer on your stove top for 2 1/2 to 3 hours.
Turn off the heat.
Season with more with salt and pepper if you wish.
Serve hot with fresh bread or rolls.