In a medium saucepan, heat the butter and olive oil over medium heat. Add the onion and cook, stirring often, until the onion has turned translucent, 3 to 4 minutes.
Add the rice and orzo and stir well to coat the grains with the butter mixture. Continue to cook over medium heat, stirring often, for 3 to 4 minutes until the grains are sizzling. Watch closely so the grains don't burn.
Add the broth, salt, garlic powder, onion powder, and pepper. Stir to combine.
Bring the mixture to a boil over medium heat without stirring. Stir once to scrape up the bottom of the pot. Cover the pot, turn the heat down to maintain a simmer, and cook for 17 minutes (don't lift the lid during cooking!).
Remove the pot from the heat and let it sit for 5 to 10 minutes before removing the lid and fluffing with a spoon or fork. Garnish with fresh parsley, if desired. Serve warm.
Notes
Rice:I have not tried this rice pilaf with brown rice. However, it should work fine with long grain white basmati or jasmine rice. Pasta:you can sub in small pieces of broken vermicelli for the orzo pasta.