Is it as easy as taking a few shavings of truffle, and chucking them into glass bottle filled with olive oil, and then sealing it up and waiting a few months?
I'd rather not mess this up, as they are pretty pricey!
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Basically, it is that easy. But it is a costly endeaver. I have know chefs to make it with a pure olive oil or grape seed oil. Some heat it to 220 degrees or so but I have meet some that don't. The ones that didn't made sure to pull the oxygen from the bottle with one of those wine vacuum savers.
I have been told self made truffle oil will lose it truffle flavor due to most the flavor actually coming from an odorant. I have not personally made any so I can't speak from experience on how long it will hold.
All the above being said. If I had the money to buy some truffle, I am not sure the best use for them would be to make truffle oil.