In a medium-sized saucepan, bring salted water to a boil. Add the linguine and cook according to the package instructions until al dente. Reserve 1 cup of the pasta water, then drain the pasta.

Heat 1 tablespoon of butter in a skillet over medium heat, then add the olive oil. Add the shrimp and cook for one minute before seasoning with salt, pepper, and Old Bay seasoning if using. Cook until the shrimp turns pink, then remove to a plate and set aside.

In the same skillet, melt the remaining butter. Add the minced garlic and cook for about 30 seconds or until fragrant, making sure not to burn it.

Pour in the heavy cream and deglaze the pan with a spatula. Stir in the grated parmesan cheese, letting it melt. Adjust the sauce consistency with the reserved pasta water, then allow it to simmer for one minute.

Toss the cooked pasta in the sauce until it is fully coated. Add the shrimp back to the skillet to reheat gently. Garnish with chopped parsley and serve immediately.