Bring the vegetable stock to a boil and keep hot. In a 3 quart saucepan, combine the butter, olive oil, and shallots and saute over medium low heat until shallots are translucent. Add the rice and toast the rice for approximately 5 minutes, stirring continuously with a wooden spoon. Add the white wine and continue stirring until the wine has evaporated. Add the hot vegetable stock, just enough to barely cover the rice and continue stirring until all the liquid is evaporated. Repeat the above step until the rice is cooked al dente, about 15 minutes total cooking time, add salt and pepper to taste.