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ADDITIONAL INSIGHT

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....

Policy

From 2025 Uncertainty to 2026 Opportunities: Stillwater’s Perspective on North American Clean Fuel Programs

January 8, 2026

The Trump 2.0 administration took office in 2025 with an agenda to roll back renewable energy mandates, promote fossil fuels, relax environmental regulations and support the burgeoning AI industry. These objectives introduced significant federal policy uncertainty, prompting states to revise their strategies either to protect environmental and energy programs or to align with the administration’s...

Policy

Inside DEQ’s first CFP listening session of the 2026-2027 Rulemaking 

December 18, 2025

On November 20, 2025, Governor Tina Kotek issued Executive Order 2529 directing state agencies to strengthen Oregon’s clean energy policies, including the Clean Fuels Program (CFP). In response, on December 17th the Oregon Department of Environmental Quality (DEQ) held a CFP listening session to explain the new direction, outline the scope and timeline for the upcoming rulemaking, and take...

Stillwater Spotlight

Stillwater Spotlight: Paul Machiele

November 24, 2025

This month, we’re thrilled to introduce Paul Machiele, one of Stillwater’s newest team members, whose prior experience at the U.S. Environmental Protection Agency (EPA) brings invaluable perspective to our work related to transportation fuels policy.  During his 39-year career at EPA, much of it spent leading regulatory programs for transportation fuels, Paul developed long-standing relationships...
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