FEATURED ARTICLES
Policy
Venezuela in the Headlines (Part 3): Beyond Trump’s Term, How Far Can Venezuelan Oil Really Go?
February 16, 2026
In Part 1 of this series, we traced how Venezuela fell from a 3+ million b/d powerhouse to today’s diminished state, and in Part 2 we assessed what is realistically achievable over the next three years in terms of production recovery, trade flows, and sanctions‑driven constraints. This third and final article looks beyond Trump’s term...
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Policy
Mind the Gap: Transportation Emissions vs. California’s 2022 Scoping Plan Pathway
February 11, 2026
The State of California has a unique air emissions regulatory history that began in 1947 with the California Air Pollution Control Act, which authorized the creation of county Air Pollution Control Districts (APCDs). This followed the first recognized episodes of smog in Los Angeles in the summer of 1943. From that legislation and others that followed, APCDs and later the California Air Resources Board (CARB) began regulating emissions from stationary sources, fuels, and vehicles. In 1966, California established the first tailpipe emissions standards in the nation. On the federal level, the landmark 1970...
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Policy
Time for a PADD 5 Fuels Study Tune-Up
July 9, 2025
I was walking with my neighbor John the other morning. He reminded me that he is a Stillwater Newsletter subscriber, but often he doesn’t get what all the articles are about. I told him many articles are about regulatory issues, but we do try to write for regular people as well. Our conversation then turned...
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ADDITIONAL INSIGHT
Economics
Iran War: What It Means for Fuel Markets and Why It’s Even More Complicated Than You Think
March 11, 2026
If you’ve been following the news this past week, you know the basics: the U.S. and Israel launched strikes on Iran on February 28th, Iran hit back across the Gulf, and energy markets went haywire. But if you’re trying to figure out what this actually means for fuel prices – at the pump, for your...
Economics
The Gasoline Gap: How California’s Biggest Emissions Source Is Falling Behind
March 11, 2026
This is the second in a series of articles examining California’s 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 in reducing GHG emissions relative to the 2022 Scoping...
Refinery Optimization
UNLOCK – Improving Downstream Profitability with Low Capex, High Impact Initiatives
March 10, 2026
Downstream operators are continuously being asked to deliver more with the assets they already have. Yet with volatile markets, evolving crude slates, logistical constraints, and limited capital budgets, most downstream businesses still carry significant untapped margin potential –value obscured by organizational silos, inherited operating assumptions, and KPIs that no longer reflect today’s environment. Stillwater’s UNLOCK is designed to surface this hidden value....
Article
Stillwater Spotlight: Dr. Michael Rensing
March 9, 2026
This month, we are pleased to introduce Dr. Michael J. Rensing, one of Stillwater’s newest Associates and an accomplished leader in low-carbon fuels policy. Michael brings nearly two decades of regulatory design, policy implementation, and market insight to our team, along with deep technical expertise and strong relationships across North America’s fuel landscape. Michael’s introduction...
Economics
Beyond regulation: navigating the global voluntary market for SAF
February 24, 2026
It’s safe to say that the market for sustainable aviation fuel (SAF) has taken off; we’re seeing a truly global market emerge with SAF production and consumption across multiple continents. From a global production output of about 25 million gallons in 2020, we’re now looking at a market of more than 20x that output, with...
Policy
Venezuela in the Headlines (Part 3): Beyond Trump’s Term, How Far Can Venezuelan Oil Really Go?
February 16, 2026
In Part 1 of this series, we traced how Venezuela fell from a 3+ million b/d powerhouse to today’s diminished state, and in Part 2 we assessed what is realistically achievable over the next three years in terms of production recovery, trade flows, and sanctions‑driven constraints. This third and final article looks beyond Trump’s term...
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