In a heavy high sided saucepan or risotto pan, heat the butter and oil together until the butter foams, add the shallots and cook, stirring occasionally until the shallot is beginning to brown around the edges. Add the rice and saute until the edges of the rice turn transparent and the grains begin to sizzle, about 5 minutes. Add the wine and simmer until it reduces by 1/2; add all but 1 cup of the broth, and the pepper (there should be a good amount of pepper). Bring to a simmer, cover, reduce the heat to maintain a lively simmer; and cook for 20 minutes. Remove the cover, stir and add 1/2 cup of the remaining broth. Stir well; taste and add salt as needed. If you like a looser risotto, add additional broth. Stir in optional cheese, if desired. Makes 6 - 8 servings.
Per Serving: 285 Calories (32.7% from fat); 11g Fat (3g Sat, 5g Mono, 1g Poly); 9g Protein; 40g Carbohydrate; trace Dietary Fiber, 12mg Cholesterol; 164mg Sodium. Food Exchanges: 2 1/2 Grain (Starch); 1/2 Lean Meat; 2 Fat.