1 tablespoon olive oil or butter
2 cups basmati or long-grain white rice
3 cups (or 2 3/4 cups, if you like dryer grains) water
1/2 teaspoon salt
Heat the oven to 350 degrees. Pour the olive oil or place the butter in a heavy saucepan with a tight-fitting lid and set the pan over medium-high heat. Throw in the rice and stir it until the oil or butter coats all the grain. Cook, stirring, for a few minutes. The rice will look glassy and smell toasty.
Pour in the water, add the salt, and bring to a boil. Stir the rice once, then cover the pot and place in the oven. Set the timer for 13 minutes.
After 13 minutes, remove the pot from the oven. Do not remove the lid from the pot and let the rice rest for five minutes. After resting, fork through the rice to fluff it and serve.