Heat oil in large saucepan, add onion, stirring constantly until tender. Add 4 cups corn, cook, stirring occassionally, until tender. Add water and bouillon, cook, stirring frequently, for 15 min or until corn is very soft.
Place corn mixture in blender or food processor, blend until smooth. Return to saucepan. Stir in remaining corn, evaporated milk, bell pepper and rosemary. Cook, stirring frequently, for 10 min or until chowder is thick and bell pepper is tender. Season with salt and black pepper, if desired.
Note: For a Southwestern-style twist to this recipe, add 1 can diced green chilies with the bell pepper, and eliminate rosemary, stir in 1 teaspoon chopped fresh cilantro.
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