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.
    View Products

    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.
    View Services

    Expertise

    Our experts come from long careers in the transportation energy industry. We see things others miss.
    Learn About Us

    Industry Insights

      Economics

      What do shifting product balances on the West Coast mean for future fuel prices and refining margins? 

      September 4, 2026

      Bottom Line Up Front: West Coast refinery closures, climate regulations, and proposed new pipeline capacity are tightening fuel supply and changing the cost to bring fuels to market. Stillwater’s Supply & Demand Outlook answers how much product the region will have. Our new Price & Margin Outlook answers the next question: At what price, and at what refining margin? Together, under the West Coast Fuels Outlooks banner, they give fuel...
      Read More

      Policy

      Pancakes, Politics, and Pipelines: The Political Winds Supporting the Development of Canadian Crude Oil Pipelines

      August 25, 2026

      The Calgary Stampede is an opportunity for folks to let their hair down and become a cowboy or cowgirl for ten days every July. Billed as “The Greatest Outdoor Show on Earth,” the Stampede attracts tourists from around the world and politicians from around Canada. Local and visiting politicians take in the fun that is...
      Read More

      Economics

      U.S. West Coast HEFA Margins – The FOG clears

      August 6, 2026

      The rapid expansion of renewable diesel (RD) and sustainable aviation fuel (SAF) production in North America has transformed the economics of biofuels, with California becoming the single largest RD market globally in a short period of time. Looking at the market from the perspective of pricing and value stacks, biofuel margins provide visibility into the...
      Read More
      No results found.
      View All Insights

      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.

        VIEW EXPERT BIOGRAPHY

        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.

        VIEW EXPERT BIOGRAPHY

        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).

        VIEW EXPERT BIOGRAPHY
        No results found.
        View All Associates

        Download Statement of Qualifications