Make the creole seasoning by combining 1 tbsp each of chili powder, garlic powder, cayenne pepper, paprika, dried thyme, and dried basil. Set aside.
In a dutch oven or cast iron bottomed heavy pot, heat olive oil over medium high heat. Once the oil is hot, whisk in 1 tbsp of flour and immediately add 1 tbsp of water. (Note: be very careful as the water may cause the oil to pop). Whisk until the mixture is completely smooth. Switch to wooden spoon and stir constantly for about 10 minutes, until the roux darkens to a light brown color.
Add the "holy trinity" of onions, bell peppers, and celery, along with the chopped jalapenos and cook for another 5 minutes, until the vegetables soften. The mixture will begin to thicken.
Pour in seafood stock, creole seasoning, and hot sauce. Bring pot to a boil, then reduce to a simmer. Let stew simmer for 10 minutes, then add shrimp. Add the shrimp earlier if you are using cooked shrimp. Simmer for another 5 minutes.