Bring a large pot of lightly salted water to a boil. Add linguine and olive oil, cook for 8 to 10 minutes, until al dente, and drain.
Melt 2 tablespoons butter in a saucepan over medium heat. Stir in garlic, and cook until golden brown. Mix in remaining butter, thyme, and roasted red peppers. Continue to cook and stir until heated through. Serve over the cooked pasta.