In a small bowl, combine the oil, pesto and Parmesan cheese. Place bread slices on an ungreased baking sheet; brush with pesto mixture. Broil 3-4 in. from the heat for 3-4 minutes or until edges are lightly browned.
Meanwhile, in a large skillet, cook bacon over medium heat until crisp. Remove to paper towels to drain.
Combine goat cheese and arugula; spread over bread. Sprinkle with bacon and pine nuts.