Will the CLOUD Evaporate?

As clouds start crowding the sky at the beginning of every monsoon, there is an apprehension in everybody's mind about will they or will they not produce an adequate amount of rain! Computing Clouds are no different! Every year analysts run surveys capturing the apprehensions CIOs have about the real benefits that cloud computing promises. If one looks at all the surveys conducted in the last three years, one will find that the same points top these lists of apprehensions - Is it safe to have sensitive company data floating on a cloud? Does the cloud have any real cost advantage? Will the cloud provide the same or better quality and continuity of service?