Preparation:

1. In a small sauce pan set over low heat, melt the butter and oil together.  2. Add the flour, whisking until smooth; cook the roux, whisking constantly for 3 minutes. 3. Pour the milk into the roux in a thin, steady stream, whisking constantly.  Continue to cook, stirring, until the sauce thickens.  Taste and adjust seasons with salt and pepper. 
Per Serving: (a serving size is 1/4 cup): 120 Calories (72.6% from fat); 10g Fat (4g Sat, 4g Mono, 1g Poly); 2g Protein; 6g Carbohydrate; trace Dietary Fiber; 20mg Cholesterol; 164mg Sodium.  Food Exchanges: 2 Fat.