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

      Long‑Awaited Reset: CARB’s Draft Cap-and-Invest and Mandatory Reporting Regulation Overhaul 

      January 16, 2026

      The California Air Resources Board (CARB) has posted regulatory text and staff materials for updates to two cornerstone climate programs: the Cap-and-Invest (C&I) Regulation (formerly Cap-and-Trade) and the Mandatory Reporting Regulation (MRR). CARB expects the Office of Administrative Law (OAL) to publish the official Notice of Public Hearing for each regulation on January 23, 2026,...
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      Policy

      Venezuela in the Headlines Again: The Long Arc of Its Oil Industry Before Today’s Crisis  

      January 14, 2026

      Venezuela’s oil industry has swung from global powerhouse to cautionary tale over the past half‑century, and that history is essential context for understanding what President Trump’s removal of President Nicolás Maduro could mean for current and future markets. This first article in Stillwater Associates’ three‑part series uses historical perspective to ground the current headlines, with two follow‑up pieces examining short‑term...
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      Article

      Stillwater Associates 2025: A Year of Growth and Impact 

      January 12, 2026

      Phew! What a year. From welcoming new experts to deepening long-term client relationships and expanding our suite of “off-the-shelf” market tools, 2025 was a banner year for Stillwater Associates. Together with our clients, we tackled complex policy questions, navigated fast-moving carbon markets, and brought thoughtful guidance to the energy transition across the transportation fuels value chain....
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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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