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Heat the oil and butter in a frying pan over a medium heat, until the butter has melted and is sizzling, then fry the sage for a minute or so until darkened and slightly translucent. Transfer to a sheet of kitchen paper using a slotted spoon. Set aside.
Fry the capers in the pan for 1-2 mins until puffed and crisp – be careful as they may spit. Transfer to the kitchen paper with the sage using a slotted spoon.
Add the bacon or pancetta to the pan with a drizzle of oil, if the pan is dry. Fry until the fat has been rendered out and the bacon is just starting to colour. Add the parsnips and fry for about 5 mins until softened and turning golden at the edges.
Cook the linguine in a pan of boiling water following pack instructions, or for about 8-9 mins, until just cooked.
Meanwhile, pour the sherry over the parsnips and bacon, and simmer until the alcohol has almost entirely evaporated. Season with salt and a squeeze of lemon juice – only a few drops, so as not to overpower the dish. Season with a good grating of nutmeg, then stir in the parmesan. Add a ladleful of the pasta water to the pan and stir until you have a creamy sauce. Drain the pasta and set aside.
Stir the crème fraîche into the sauce and simmer until slightly reduced. Add the fried capers, sage and the linguine, then toss to combine. Heat everything together for 1-2 mins, then remove from the heat, season well with black pepper, and divide between plates. Top with extra parmesan and a grating of orange zest, if you like.