Heat oil in 12" skillet over medium-high heat. Add onion and pepper and cook, stirring, until soft, about 6 minutes.
Add beef and cook until browned, stirring so that the meat breaks up into small pieces, about 8 minutes. Add tomato sauce, Worcestershire, chili powder, salt, pepper, and Tabasco; cook stirring occasionally until reduced and thick, about 10 minutes.
Divide between buns and serve.
Recipe by Dallas Duo Bakes at http://dallasduobakes.com/2011/04/sloppy-joe.html