Shrimp and Scallop Risotto

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1/4 cup olive oil

3 tablespoons butter

2 large shallots, finely chopped

6 cloves garlic, finely chopped

1 pound bag risotto

2 1/8 cups dry vermouth

16 cups clam broth

1 red pepper, finely chopped

1 green pepper, finely chopped

1 yellow pepper, finely chopped

1 jalapeno, finely diced

1 cup packed fresh dill, chopped

1 cup chopped packed fresh parsley leaves

1 pound fresh bay scallops

1 pound shrimp, shelled, de-veined

1/4 cup grated Asiago cheese