1Bring stock to a boil then reduce heat to a simmer.
2In a separate pot, heat canola oil over medium heat and sweat the shallot until it is translucent but do not allow it to brown. Add the rice to the shallot and stir together for 30-45 seconds. Crumble saffron into the rice then carefully pour in the wine and allow it to reduce by half.
3While continually stirring, begin adding stock one cup at a time, allowing it to be completely absorbed before adding more. Continue adding stock until the rice is al dente.
4Turn off the heat on stove and add cheese, parsley, basil, butter, and olive oil. Stir all together until the butter is melted. Adjust consistency by adding more stock if needed. Season with salt and pepper before serving.