Chop the onions. Don't throw out the peel - add it to the stock - it will give your stock a nice dark golden color.

Chop the carrots.

In a large Dutch oven over medium high heat, swirl some olive oil in the bottom of the pan, then add the onions and carrots and about 3 or 4 sprigs of thyme. Cook, stirring, until the onions soften.

Add shrimp shells and shrimp. Cook for about 10 minutes until you get a nice frond on the bottom of the pot.

Add water. Generously season with salt and pepper.

Bring to a boil, then reduce heat and simmer for 15 to 20 minutes.

Strain.