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

      Economics

      A Diesel Export Ban Would Cut Refinery Runs, Not Fuel Bills 

      October 2, 2026

      “Just keep the diesel here” has become the most popular energy policy idea in Washington this fall. Diesel is at record prices, and the U.S. is exporting record volumes of it (1.88 million barrels a day in one week this summer), so the logic goes: stop the exports and the price comes down. On September...
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      Economics

      Low Tanks, High Margins: Why Product Cracks Are at Records, and How Long They Are Likely to Last

      September 9, 2026

      “Refining margins are at all-time highs! $100 cracks! Buy refining stocks?!” We’ve seen the heady buzz around refinery cracks and stock performance. Checking the stocks, the four major American refiners are in fact all up over 100% in the past 12 months, well outperforming the S&P 500 (except P66, but 96% is close!). Major U.S....
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      Economics

      The West Coast Is Redrawing Its Fuel Map. Will the New Pipeline Fit? 

      September 9, 2026

      Bottom Line Up Front: The West Coast is losing refineries, tightening supply, and rewriting its own demand curve through some of the most aggressive fuel policy in the country. To add to the uncertainty, for the first time in a generation, a major new pipeline has reached final investment decision to bring in new supply....
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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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