You may this saffron sauce over hot cooked rice and lobster.
1/3 cup butter or margarine
6 small shallots, chopped
2 cups champagne
1 cup whipping cream
1/2 teaspoon salt
1/4 teaspoon ground white pepper
1/4 to 1/2 teaspoon saffron
Melt butter in a large skillet; add shallots, and saute 2 to 3 minutes or until tender. Stir in champagne, and cook 7 to 9 minutes or until reduced by half. Stir in whipping cream, salt, pepper, and saffron; bring to a boil. Reduce heat, and simmer, stirring constantly 5 minutes.
Pour sauce through a wire-mesh strainer into a bowl, discarding shallots and saffron.