FEATURED ARTICLES
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ADDITIONAL INSIGHT
Stillwater Spotlight
Stillwater Spotlight: John Askounis
February 9, 2026
Stillwater Associates is pleased to welcome John Askounis to our team! John brings over four decades of distinguished experience in the downstream oil sector. His extensive background in refining economics, fuels strategy, and regulatory affairs positions him as a valuable resource for clients navigating today’s complex energy landscape. With a career spanning more than 40...
Economics
Venezuela in the Headlines (Part 2): How Much Venezuelan Oil Can Really Return in the Short Term?
January 27, 2026
Trump’s seizure of President Nicolás Maduro has sparked expectations of a rapid revival in Venezuelan oil output. Some analysts are calling this a new “remote‑control” era of Venezuelan governance, where Washington’s leverage over licenses and sanctions, rather than Caracas’ policy ambitions, sets the pace of any oil recovery. In our first article in this three‑part...
Policy
Sunrise Approaches for the New Mexico CTFP
January 26, 2026
On January 22, 2026, the New Mexico Environmental Improvement Board (EIB) unanimously adopted regulations to implement the Clean Transportation Fuels Program effective April 1, 2026. The final regulations, as adopted, have not yet been published – that will occur after the EIB meets on February 12 to adopt the final statement of reasons (FSOR) –...
Policy
Long‑Awaited Reset: CARB’s Draft Cap-and-Invest and Mandatory Reporting Regulation Overhaul
January 16, 2026
*This article, originally published January 16th, has been updated with additional information made available January 20th.* On January 13, 2026, the California Air Resources Board (CARB) 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). On January 20th, CARB followed up with an official Notice of Public Hearing for each regulation, initiating a 45-day public comment period from January 23, 2026 through March 9, 2026. Per the...
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...
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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