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Over medium heat, add butter, oil, and bouillon cube to a skillet or pan. Whisk to dissolve the cube then add the rice. Coat the rice with the oil mixture and add the water.
Bring to a bubbly boil then drop the heat to low. Allow the rice to absorb the water according to your rice package directions. You may use quick-cooking or standard rice.
Fluff the rice and season with a dash of salt and pepper if desired. Dried parsley flakes add a nice pop of color.