To make the roux, melt butter with oil in a large heavy saucepan over low heat. Whisk flour into the oil to form a paste and cooking over low heat and whisk continuously, until the mixture turns a caramel color and gives off a nutty aroma, about 15 to 20 minutes.

Add the onion, green pepper, celery, and garlic and cook over low heat until the vegetables are limp, about 5 minutes.

Add the black pepper, white pepper, cayenne pepper, Cajun seasoning, green onions, parsley, and hot sauce to taste. Add clam juice, chicken broth, tomatoes with their juice and salt to taste. Bring to a boil, reduce the heat to low and simmer for 10 to 15 minutes until mixture thickens.

Add lobster meat and cook for 3-5 minutes careful not to overcook. Remove from heat and add the 4 tablespoons reserved butter and stir to melt. Garnish with the green onions, parsley and serve over steamed rice.