Bring a large pan of water to a boil with the peanut oil. Add the spaghetti and salt to taste and cook, stirring occasionally, until the pasta is al dente, about 10-12 minutes. Drain and keep warm. In a medium saucepan heat the olive oil with the garlic and red pepper. Cook over a low heat for 5 minutes. Stir in the parsley. Pour the oil over the spaghetti before serving.