Preheat the oven to 400 degrees F.
Warm the olive oil in an ovenproof dutch oven or saucepan over medium high heat. Saute the shallots until they soften and turn translucent, about 2-3 minutes.
Cook the rice for 1 minute until the grains are opaque. Pour in the wine and squeeze in the lemon juice. The liquid will bubble and the rice will absorb it in a couple minutes.