Bring pot of salted water to a boil. Meanwhile, in a small pan, place shrimp shells and/or tails. Add ½ cup of wine and ½ cup of water, bring to a boil and then cover partially and keep at a steady simmer while you prep the rest of the ingredients.
Cook linguine until just al dente. Reserve at least ½ cup of the cooking water and drain. Drain shrimp stock, reserving ½ cup.
In large skillet, melt butter with olive oil. Add shallots and cook for a minute or two until softened a bit. Add garlic and cook until fragrant, about 30 seconds. Add ½ cup wine, ½ cup shrimp stock or clam juice, ½ cup pasta water, salt, crushed red pepper and plenty of fresh cracked pepper. Bring to a steady simmer and cook until reduced by about a third, 5 – 7 minutes.
Add the shrimp to the pan and cook until just pink and cooked through, 2 – 3 minutes. Stir in parsley and lemon juice. On low heat, add cooked linguine and toss to coat well and heat through, another minute or two. Sprinkle with more chopped parsley and serve.