Heat the oil in a skillet set on medium-high heat. Oil should just coat pan. Add beef and brown, about 5 minutes. Put beef and all other ingredients into an ovenproof dish with a cover. Bake at 325°F degrees for about 2-1/2 hours, until meat and vegetables are tender. The same ingredients can be put into a slow-cooker and cooked on low for 10 to 12 hours or poured into a 4-quart pressure cooker, which will finish the stew in less than half an hour. In a pressure cooker, heat till pressure rises and weight starts to rock. Cook on medium heat, so that weight rocks steadily, for 12 minutes. Drop pressure immediately by putting pot under cool running water.