Heat butter and oil in a large cast iron or ovenproof skillet over medium-high heat. Add bell peppers, shallots, and seasoning blend. Sauté 5 minutes or until shallots are translucent.
Stir in broth, and simmer 10 minutes or until vegetables are tender. Transfer to a blender, and puree until smooth. Season to taste with salt and pepper. (Sauce may be made ahead. Reheat before serving.)
Sprinkle fillets with salt and pepper. Sear fish in hot oil 4 to 5 minutes per side or until done. Serve immediately with pepper sauce.
POUR: Look for a wine rich enough to stand up to the yellow-pepper sauce and spicy beans. A crisp, refreshing Italian Verdicchio from Bisci ($18) is a good choice. Also consider Etude's Rosé of Pinot Noir Carneros ($20). The vibrant nose and balanced acidity make it a delightful sipping wine that complements many types of seafood.