Heat olive oil and butter together in a large, heavy skillet; add shallots and sauté until translucent.

Add champagne and reduce well, to approximately syrup consistency; add cream and reduce slightly.

Whisk in the gorgonzola and Parmesan; taste and adjust seasoning with salt and white pepper.

If the sauce is thicker than you'd like, add water from the cooked/cooking pasta to achieve desired consistency.

Add the drained hot pasta to the sauce and heat well until the pasta absorbs a bit of the sauce.

Serve in a large pasta bowl, garnished with additional Parmesan and black pepper, and accompanied by garlic bread.

Also good with sauteed mushrooms added.