Our Experience Runs Deep

Stillwater Associates leverage decades of experience at major oil corporations to help clients navigate the challenges with the highest level of industry knowledge, market analysis, policy insight, and emerging technology strategies.

NAVIGATE MARKETS WITH TRANSPORTATION FUELS EXPERTISE

Products, Services, and Expertise 

    Providing an understanding of how fuels get from the source to the retail station is just the beginning. Stillwater’s products and services deliver the detailed analysis our clients need to create competitive advantage.

    Products

    Stillwater offers subscription services with the market information and analysis required to successfully navigate the transportation energy transition.
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    Services

    Stillwater provides Strategy & Economics, Policy, M&A, and Litigation Support consulting services for clients who need in-depth, expert analysis to guide their decisions.
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    Expertise

    Our experts come from long careers in the transportation energy industry. We see things others miss.
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    Industry Insights

      Policy

      California’s ZEV Stall: Sales Peak, Federal Credit Expires, and State Scoping Plan Slips Out of Reach

      May 12, 2026

      This is the fourth in a series of articles examining California’s transportation fuels progress toward the greenhouse gas (GHG) reduction targets set by the 2022 Scoping Plan. The first article – Mind the Gap: Transportation Emissions vs. California’s 2022 Scoping Plan Pathway – provided background and an overview of how the transportation sector has performed...
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      Policy

      A Puzzle in the 4Q2025 LCFS Data: Tightening Market, Soft Prices

      May 11, 2026

      The California Air Resources Board (CARB) released fourth-quarter 2025 data for the Low Carbon Fuel Standard (LCFS) on April 30, 2026. The data show the program’s recent stringency increase doing what it was designed to do: shrinking the credit bank. Yet LCFS credit prices, which would typically respond to a tightening market, have stayed soft....
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      Presentations

      Pulling in Opposite Directions: Federal Policy, State Programs & the Impact on Transportation ​Fuel Markets

      May 11, 2026

      On April 22, 2026, Stillwater’s President, Megan Boutwell, presented “Pulling in Opposite Directions: Federal Policy, State Programs, & the Impact on Transportation Fuel Markets” at the Transportation Energy Institute 2026 Annual Conference in Fort Worth, Texas. The presentation examined the growing divide between accelerating state-level carbon reduction programs and shifting federal policy priorities, and how...
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      Featured Experts

        Our associates leverage decades of experience to help clients navigate challenges with the highest level of industry knowledge, strategic thinking, operational and market expertise, and policy insight.

        David Hackett

        Chairman of the Board

        With more than 30 years of experience in the downstream oil business, Dave has built a team of industry professionals who are skilled at creating value for our clients.

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        Megan Boutwell

        President

        As Stillwater’s President, Megan Boutwell is responsible for promoting Stillwater Associates as the leading experts on transportation fuels issues. Megan directs business operations and implements growth management within the company.

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        Dr. Adam Schubert

        Senior Associate

        Adam joined Stillwater in 2018 following a 33-year career with ARCO, BP, and Butamax (a joint venture of BP and DuPont).

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