1. Heat the oil and butter in a heavy three-quart saucepan (not aluminum or copper which discolors rice). Add the finely chopped shallots or onion and saute over medium heat until they turn golden. Stir in the Arborio rice and cook for a minute or two. (until rice is coated)
2. Add in about 1 cup of hot chicken stock. Cook stirring, until most of the stock has been absorbed by the rice. Add another ladle of stock. Stir.
3. Continue to cook, stirring from time to time, and adding additional stock as it is absorbed. Add the Gorgonzola Cheese, which has been cut into small pieces, and stir until the cheese melts and becomes creamy. Remove from hat. Do not overcook. (Italians cook rice until it is "al dente" that is, resistant to the bite).
4. Season to taste with salt and pepper, and immediately transfer the rice to either a warm serving dish, or individual plates, preferabley shallow soup dishes. Sprinkle generously with the freshly ground Parmigiano Reggiano. Serve immediately.
Serves approximately 4