In a large sauce pan, heat butter and olive oil over medium-high heat. Add pasta and cook, stirring constantly, until deeply brown, about 5-8 minutes.
Add in rice and continue to toast until rice is just translucent, about 3-4 more minutes.
Add in broth, bouillon, garlic powder, and onion powder. Bring to a boil, then lower to a simmer. Cover and simmer for 15 minutes.
Remove from heat. Take lid off and cover pot with a clean cooking towel. Add lid on top of towel and let rest for 5 minutes.
Remove towel and lid. Fluff rice with fork and add in salt (optional).