Add butter and oil to a 10-inch skillet and heat on medium to medium-low.
Once the butter has melted add in the shallots, sugar and a pinch of salt. Stir often and cook slowly until the shallots have softened and turned a deep golden brown.
Whisk mayonnaise and sour cream together in a medium bowl. Add in the shallots, blue cheese, salt and pepper. Stir until combined, mashing up any large chunks of blue cheese. Cover and refrigerate for 2 hours, but overnight is best.
FOR THE DIPPERS:
Before serving, combine the everything and Italian seasoning. Brush baguettes with melted butter and sprinkle with everything seasoning. Bake as directed on package.