Heat the olive oil in a tall sided pan. Over medium heat, not too high, add the shrimp and let sauté for a few minutes. Remove and reserve the shrimp. Add the shallots and “sweat” them for a couple minutes (sauté until translucent). Add the Arborio and let that coat well for a couple minutes. Add the white wine a doses of a couple ounces and then follow with the warm shellfish broth, letting each previous dose absorb before adding more liquid, stirring steadily all the while. When all but ½ cup of the liquid is added, check the doneness of the rice. Add more liquid if the rice is crunchy but if it is firm but cooked, stir in the pesto then the shrimp. Finish with the butter and season with salt and pepper. Perfect risotto folds out of the pan slowly collapsing on top of itself, “all’onda” –in waves.