In a pot or shallow skillet add the olive oil (or butter) over medium-high heat.
Add in the rice and stir to coat in the oil.
Cook for 3-5 minutes until toasted.
1/2 a cup at a time, add in the broth and stir until each addition is absorbed. This should take 20-30 minutes and you may not use all the broth.
About halfway through, taste the rice to see how much longer it might need to be cooked. We are looking for al-dente (slightly chewy)
Once it is done cooking, stir in the salt, pepper, and parmesan cheese.
Top with freshly cracked pepper and enjoy immediately!