In a small saucepan, bring the broth and water to a slow simmer. Then turn to low and keep warm.

In a large, heavy-bottomed saucepan, wok, or Dutch oven, heat 1 tablespoon butter and 1 tablespoon vegetable oil over medium-high heat. Add the onion; cook and stir until translucent (about 3-5 minutes). Add the garlic and cook, stirring constantly, for 1 more minute. Add rice; stir until the grains are coated well.

Add ½ cup of simmering broth and cook the rice, stirring constantly, with a long wooden spoon, wiping the sides and bottom of the pot clean as you stir, until all of the liquid is absorbed. Never stop stirring, and be sure to scrape the bottom of the pot regularly so that the rice doesn’t stick.

When there is no more liquid in the pot, add another ½ cup of broth, constantly stirring again. Repeat this process until you have used almost all of the liquid, but start tasting the rice after 20 minutes of cooking. The risotto is done when the rice is tender, but firm to the bite (this usually takes about 25-30 minutes of total cooking time). As it approaches that stage, gradually reduce the amount of liquid that you’re adding to the pot. When it’s fully cooked, you want the risotto moist, but not runny.

During the final 1-2 minutes of cooking, stir in the Parmesan cheese and the remaining 1 tablespoon of butter. Keep stirring to melt the butter and cheese. Remove from heat; taste and season with salt (if necessary). Transfer to a platter or bowl, garnish with fresh parsley, and serve immediately.