Risotto with White Wine

I realized when I posted my last update with the Herbes de Provence chicken, I didn't include the recipe for the risotto I had made alongside the chicken dish. I LOVE risotto-partly because it's so healthy, but also because it always seems to add a touch of elegance that's lacking in plain rice. It's a little more time-consuming to prepare, but absolutely worth it. There are a million different ways of preparing risotto, and a ton of ingredients/flavors you can add. This particular one I've been making for years, and I haven't really deviated too much from the original recipe. You can also add some freshly grated parmigiano reggiano to soften it up a little.
Ingredients:

1 T butter
2 T olive oil
1/3 cup white onion, chopped
1 cup medium-grain rice
1/2 cup dry white wine (I generally use Chardonnay)
3 cups water
2 cups beef broth
salt and pepper, to taste
1/3 cup parmigiano reggiano (optional)

Directions:

1. In a sauce pot over medium high heat, combine the water and beef broth. Let simmer on stovetop.

2. In a medium sized skillet over high heat, melt the butter and the olive oil together. Add the onion and saute until the onions are soft and clear, about 5 minutes. Turn the heat down to medium-high.

3. Add the rice to the skillet and combine with olive oil/onion combination. Stir well, about 1 minute.

4. Add the wine to the skillet, stirring quickly to absorb all the liquid.

5. Add 1/2 cup of the beef broth/water mixture to the rice, stirring quickly until all the liquid is absorbed. Repeat until the broth mixture is gone. Remove the skillet from the heat, and add salt and pepper to taste. Serve hot.