Heat olive oil over medium-high heat in a medium saucepan.
Add rice and stir constantly for about 1 minute.
Add water and bullion cubes, stir.
When water boils, turn heat to low and cover saucepan. Cook about 15 minutes on gas stove (20 on electric), stirring occasionally until water is absorbed.
Remove from heat and add salt and pepper to taste (you can make rice up to this point and leave covered for about 15 minutes).
Stir in chives, parmesan cheese, and pine nuts if desired.