Flash Reports
Flash Report
Flash Report: 4Q2025 LCFS Data Show 1.86 million MT Net Deficit
April 30, 2026
Today, CARB posted fourth quarter 2025 data for the LCFS program. In today’s flash report, we offer a quick look at this fourth quarter data; our comprehensive analysis will be published in Stillwater’s Quarterly LCFS Newsletter which will be available to subscribers on Thursday, May 7th. The fourth quarter data show a net deficit of...
Flash Report
Flash Report: 3Q2025 LCFS Data Show 1.71 million MT Net Deficit
January 30, 2026
Today, CARB posted the third quarter 2025 data for the LCFS program. In today’s flash report, we offer a quick look at this third quarter data; our comprehensive analysis will be published in Stillwater’s Quarterly LCFS Newsletter which will be available to subscribers on Thursday, February 5th. The third quarter data show a net deficit...
Flash Report
Flash Report: 2Q2025 LCFS Data Show 3.17 million MT Net Credit
October 31, 2025
Today, CARB posted the second quarter 2025 data for the LCFS program. In today’s flash report, we offer a quick look at this second quarter data; our comprehensive analysis will be published in Stillwater’s Quarterly LCFS Newsletter which will be available to subscribers on Thursday, November 6th. The second quarter data show a net credit...
Flash Report
Flash Report: 1Q2025 LCFS Data Show 2.87 million MT Net Credit
July 31, 2025
Today, CARB posted the first quarter 2025 data for the LCFS program. In today’s flash report, we offer a quick look at this first quarter data; our comprehensive analysis will be published in Stillwater’s Quarterly LCFS Newsletter which will be available to subscribers on Thursday, August 21st. The first quarter data show a net credit...
Flash Report
July Jolt: OAL approves mid-year adjustment to LCFS, gas prices set to rise
June 30, 2025
On Friday June 27th, the California Air Resources Board (CARB) announced that the Office of Administrative Law (OAL) approved the 2024 Low Carbon Fuel Standard (LCFS) Amendments and that the new reduction schedule will become effective on July 1, 2025. According to CARB, the amended 2025 carbon intensity (CI) benchmarks “apply to fuel transactions occurring on...
Flash Report
CARB Resubmits LCFS Amendments to OAL & Requests Early Effective Date
May 19, 2025
Friday evening, May 16th, the California Air Resources Board (CARB) announced that it had resubmitted modified Proposed Amendments to the Low Carbon Fuel Standard (LCFS) to the California Office of Administrative Law (OAL). In this Flash Report we catch you up on the regulatory process underway and highlight what’s new with this May 16th resubmission. ...
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Weekly Newsletter
Weekly price & trading trends for the California LCFS program and the latest news around low carbon fuel programs in the U.S. and Canada.

Monthly Newsletter
Stillwater’s expert analysis of monthly California program data and LCFS-style regulations under development beyond California.

Quarterly Newsletter
Stillwater’s expert analysis of quarterly California and Oregon program data along with in-depth insights into recent market trends.