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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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