In large skillet, melt butter with olive oil. Add shallots and cook for a minute or two until softened a bit. Add garlic and cook until fragrant, about 30 seconds. Add ½ cup wine, ½ cup shrimp stock or clam juice, ½ cup pasta water, salt, crushed red pepper and plenty of fresh cracked pepper. Bring to a steady simmer and cook until reduced by about a third, 5 – 7 minutes.