Heat oil and butter in a heavy bottom pan over medium high heat and add shallots, chile pepper and garlic. Stir until softened about 3-4 minutes. Add risotto and stir to coat. Add white wine and let absorb. Cover risotto with chicken stock.

Keep adding chicken stock as it absorbs, stirring frequently. When it reaches a firm but cream consistency remove from heat and add remaining ingredients.

To serve, grate parmesan cheese over the top.