In this episode of "The Ascent," host Sam McGee interviews Marshall Fisher, Director of Distillate Trading at Valero. They discuss Marshall’s background, his journey into the energy and aviation fuel industry, the intricacies of jet fuel production and distribution, and the impact of global events like COVID-19 on the fuel market. Marshall shares industry stories, including a humorous anecdote about commodity trading, and offers career advice for those interested in the energy sector. The conversation wraps up with insights on the importance of petroleum products in modern life.

00:00 – Introduction: Host Sam McGee introduces the show and guest Marshall Fisher.

00:47 – Marshall’s Background: Growing up in Boerne, education, and early career.

01:45 – Getting into Energy Trading: Marshall’s path to Valero and the appeal of energy trading.

03:00 – Aviation Fuel 101: Explaining the process from refinery to tarmac, and global demand stats.

05:00 – COVID-19 Impact: How the pandemic affected fuel markets and trading.

08:00 – Commodity Trading Story: The dentist and the 1,000 barrels of heating oil.

10:00 – Market Stabilization: How big players managed risk during market turmoil.

12:30 – Valero’s Market Share: Valero as the largest North American jet fuel seller.

13:00 – Career Advice: Internships, building a brand, and advice for students.

16:00 – The Role of Aviation Fuel: The importance of petroleum products in daily life.

17:20 – Closing Remarks: Final thoughts and gratitude.

Original Air Date: October 4, 2025 at 8:30am as heard on Boerne Radio 103.9FM

Contact: www.crestmontpw.com

Alec Walker in Houston: 831-280-5288

Sam McGee in Boerne: 830-368-2898

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