LOL, this thread is pretty old, but it is a topic that will never get old to talk about!
As a Wisconsinite that grew up eating butchered dairy cattle on our home farm....
First, if you are putting canola oil, vegetable oil, or some other fancy modern plant oil in a pan to cook a steak: You are wrong. veggie oil is for making Pilsbury brownie mix. Not for frying things in a pan.
Not because of the pan vs grilling or anything else, you don't put oil on a steak. Would you eat a spoonful of canola? No? Then it doesn't go on steak.
I do not condemn anyone for using a pan on a stove, not everyone has a smoker or grill or a place to grill, and everyone should get to eat steak. I prefer a wood fire. Can't always do that.
But there are some universal things.
The steak should sit out and not be frozen, at all, or even fridge cold. Yes, people eat steaks that were frozen(you butcher a cow and you don't eat that whole thing in 2 days people) fresh is best. Slightly cooled compared to room temperature is good.
Dry the steaks before you do anything. Don't want any water on them.
Handle the steak gently. No slapping it on the counter to season or otherwise.
Black pepper, rub on the steak gently. No salt, you do that before you eat it if you want some, or if you know you do, right before it comes off the heat.
Some people like a small amount of garlic rubbed on the steak. I have tried it, s'alright. Prefer just pepper myself.
If you have a grill, good for you! Sear it and then slow cook it till it is medium. Put a giant pat of butter on top after the last flip. Let it rest for a good while when you take it off.
If you have a pan,
NO OIL. DON'T DO IT.
Butter. Only butter. NOT MARGARINE. That crap is just a worse for you form of plant oil. BUTTER. Big blob, pan on medium high. I don't usually hard "sear" the meat because that is what the butter is for, to keep it juicy and I find it harder on a stove top to get the outside vs inside perfect with a hard sear. Usually just end up too much blackened crust or too rare inside. Slow sizzle.
Spoon butter over the steak as it sizzles to perfection. No need to add butter on top, you have been this whole time. Probably not salt either if you use salted butter. Salted butter is the correct butter, but some people prefer the less correct butter, to each their own. Let it rest again.
I prefer Asparagus and a loaded potato with mine. Green beans can be alright to, steam them most the way then drop them in a buttered pan to simmer with some finely chopped bacon and a pinch of brown sugar and dash of vinegar. Who says green veggies are bland?