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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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