Install Oracle Java 7 to Ubuntu 12.04

Easiest way to do it is to run in terminal

sudo add-apt-repository ppa:webupd8team/java
sudo apt-get update
sudo apt-get install oracle-java7-installer

Nice thing is that it keeps java version up-to-date. There is longer explanation with different alternatives in Ubuntu site.

Optional: add to .bashrc
export JAVA_HOME=/usr/lib/jvm/java-7-oracle