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Caramelize the Onions: In a large skillet, heat the olive oil and 1 tablespoon of butter over medium heat. Add the sliced onions and a pinch of salt. Sauté, stirring occasionally, until the onions are soft and golden brown, about 12-15 minutes. Set aside.
Rinse the Rice: Rinse the jasmine rice under cold water until the water runs clear to remove excess starch.
Cook the Rice: In a medium saucepan, melt the remaining 1 tablespoon of butter over medium heat. Add the rinsed rice and stir to coat the grains with butter.
Add Water or Broth: Pour in the water or broth, add the black pepper and salt, and bring to a boil.
Simmer the Rice: Reduce the heat to low, cover, and simmer for about 15-18 minutes, or until the rice is tender and the liquid has been absorbed. Remove from heat and let it sit, covered, for 5 minutes.
Mix the Onions and Rice: Fluff the cooked rice with a fork and gently stir in the caramelized onions.
Garnish and Serve: Sprinkle with fresh parsley if desired and serve immediately.