In your medium-sized pot, heat the olive oil and butter over medium heat. Once melted, add the diced yellow onion and sauté until it becomes translucent, about 3-4 minutes. Stir in the minced garlic and continue to sauté for an additional minute until fragrant.
Add the long-grain white rice to the pot, stirring well to coat the grains with the oil and butter. Toast the rice for about 2 minutes, stirring frequently, until the rice is slightly golden.
Sprinkle in the kosher salt, black pepper, ground cumin, smoked paprika, and chili powder. Stir to combine, ensuring that the rice is well-seasoned.
Add the entire can of diced tomatoes with green chiles (including the juice) to the pot. Give it a good stir, allowing the flavors to meld together.
Pour in 1¾ cups of water, and bring the mixture to a boil. Once boiling, reduce the heat to low, cover the pot, and let it simmer for about 18-20 minutes or until the rice is tender and has absorbed the liquid.
Once the rice is cooked, remove it from the heat. Stir in the Mexican Blend cheese, minced chipotle pepper (if using), and chopped cilantro. Squeeze the juice of one lime over the top and mix until everything is well combined.
Fluff the rice with a fork and serve warm. Garnish with additional chopped cilantro for a fresh touch.
