Clean shrimp, boil 4 minutes in large pot; save stock.
In heavy skillet, make roux by heating oil, mix in flour, stirring constantly until browned. Add onion and brown slightly. Add shrimp, salt and pepper. Stir until shrimp are coated with Roux and none sticks to skillet. Add tomato paste and green peppers. Stir 15 min over moderate heat. Pour in 1 cup of stock and cook another 15 minutes over moderate heat. Add small amounts of hot sauce, chili powder and cayenne pepper to taste at end of cooking time. Add more stock as needed. Cook up to 1 hour, adjusting salt, pepper at hot spices to taste.
Serve over white rice.
For leftovers, add a fair amount of stock before refrigerating.
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