Place the dried porcini mushrooms in hot water for 30 minutes to reconstitute them. Then drain the mushrooms through a sieve lined with paper towel, and a bowl underneath to capture the mushroom liquid. Coarsely chop the porcini and set aside along with a cup of the liquid.
Bring the broth to a gentle simmer and keep warm.
Heat the olive oil over medium heat. Add the onions sauté until the onions start to get soft, about 5 minutes. Add the garlic and sauté for another minute
Add the rice, stir to get it evenly coated with onion mixture, about 2 minutes. Add 1/3 cup of wine, cook until it is absorbed.
Add a ladle or two of broth to the rice, stir in and cook until the broth is absorbed. Add another ladle of broth and repeat process. You need to be stirring quite frequently throughout the process, thought you can attend to other things in the kitchen, too. Once all or most of the liquid has been absorbed and the rice is tender to the bite, you are ready for the mushrooms & finishing touches. This takes about 30 minutes.
Get the mushrooms going as you gradually ladle the broth into the risotto. Heat 1 tablespoon of the olive oil in a skillet, then add the shallots, cook until softened, 3-5 minutes.
Stir in the mushrooms, cook until they begin to soften about 5 minutes.
Stir in the remaining 1/3 cup red wine, rosemary, thyme and basil. Cook about 5 minutes until the wine is mostly absorbed, then melt in the tablespoon of butter. When the butter has melted, keep the mushrooms on low heat to keep warm.
Finish the risotto: Stir the mushrooms into the cooked rice, then stir in the cheese and the truffle oil. Serve at the table with extra cheese with a red wine from Italy’s Piedmont region!