Bring the vegetable stock to a simmer in a large sauce pan. Reduce the heat to very low and keep the stock on the heat.
Heat the oil on a large heavy saucepan over medium heat. Add the shallots, garlic, and thyme, and sauté for 2 minutes, or until the shallots are tender but not browned. Add the rice and sauté for 30 seconds to coat with oil. Stir in the white wine and cook for 3 minutes, or until it is absorbed. Add the ¾ cup of vegetable stock and cook, stirring constantly, until it has been absorbed. Continue adding stock ¾ cup at a time, stirring until each addition has been absorbed, for about 22 minutes, or until the rice is al dente (the center of each grain of rice should still be slightly firm).