In a large, heavy skillet, heat the oil and butter over medium-high heat. When the foaming subsides, add the onion and cook for a few minutes, until soft. Meanwhile, scrape the kernels off the cobs of corn, scraping away any milk at the base as well. (You can do this by holding the cob upright in the middle of a Bundt or angel cake pan and scraping down the sides, or merely holding it in a wide bowl or pan.)
Add the corn to the hot pan and cook until tender and if you like, starting to brown. Add the cream and cook for a minute or two, until thickened.
Season with salt and pepper and serve immediately.