A method of producing a polyether polyol, comprising: reacting a low molecular weight initiator with one or more monomers in the presence of a polymerization catalyst, the low molecular weight initiator having a nominal hydroxyl functionality of at least 2 and a number average molecular weight of less than 5000 g/mol, the one or more monomers being at least one selected from propylene oxide and butylene oxide, and the polymerization catalyst being a Lewis acid catalyst having the general formula M(R 1) 1 (R 2) 1 (R 3) 1 (R 4) 0 or 1, whereas M is boron, aluminum, indium, bismuth or erbium, R 1, R 2, R 3, and R 4 are each independent, R 1 includes a first fluoroalkyl-substituted phenyl group, R 2 includes a second fluoroalkyl-substituted phenyl group or a first fluoro/chloro-substituted phenyl group, R 3 includes a third fluoroalkyl-substituted phenyl group or a second fluoro/chloro-substituted phenyl group, R 1 being different from at least one of R 2 and R 3, and optional R 4 includes a functional group or functional polymer group, said functional group or functional polymer group being a molecule that contains at least one of the following: water, an alcohol, an alkoxy, a ketone, an ester, an organosiloxane, an amine, a phosphine, an oxime, and substituted analogs thereof; and forming a polyether polyol having a number average molecular weight of greater than the number average molecular weight of the low molecular weight initiator in the presence of the Lewis acid catalyst; wherein said fluoro/chloro-substituted phenyl group is a phenyl group that includes at least one hydrogen replaced with a fluorine or chlorine atom, where the phenyl group may be substituted with other groups but excludes fluoroalkyl groups as substituents; and wherein (i) R 2 is the second fluoroalkyl-substituted phenyl group that is the same as first fluoroalkyl-substituted phenyl group, and either R 3 is the second fluoro/chloro-substituted phenyl group or R 3 is the third fluoroalkyl-substituted phenyl group that is different from the first fluoroalkyl-substituted phenyl group; or (ii) R 2 is the second fluoroalkyl-substituted phenyl group that is different from the first fluoroalkyl-substituted phenyl group, and R 3 is the third fluoroalkyl-substituted phenyl group that is different from the first fluoroalkyl-substituted phenyl group and the second fluoroalkyl-substituted phenyl group; or (iii) the Lewis acid catalyst has the general formula M(R 1) 1 (R 2) 1 (R 3) 1 (R 4) 1. reacting a low molecular weight initiator with one or more monomers in the presence of a polymerization catalyst, the low molecular weight initiator having a nominal hydroxyl functionality of at least 2 and a number average molecular weight of less than 5000 g/mol, the one or more monomers being at least one selected from propylene oxide and butylene oxide, and the polymerization catalyst being a Lewis acid catalyst having the general formula M(R 1) 1 (R 2) 1 (R 3) 1 (R 4) 0 or 1, whereas M is boron, aluminum, indium, bismuth or erbium, R 1, R 2, R 3, and R 4 are each independent, R 1 includes a first fluoroalkyl-substituted phenyl group, R 2 includes a second fluoroalkyl-substituted phenyl group or a first fluoro/chloro-substituted phenyl group, R 3 includes a third fluoroalkyl-substituted phenyl group or a second fluoro/chloro-substituted phenyl group, R 1 being different from at least one of R 2 and R 3, and optional R 4 includes a functional group or functional polymer group, said functional group or functional polymer group being a molecule that contains at least one of the following: water, an alcohol, an alkoxy, a ketone, an ester, an organosiloxane, an amine, a phosphine, an oxime, and substituted analogs thereof; and forming a polyether polyol having a number average molecular weight of greater than the number average molecular weight of the low molecular weight initiator in the presence of the Lewis acid catalyst; wherein said fluoro/chloro-substituted phenyl group is a phenyl group that includes at least one hydrogen replaced with a fluorine or chlorine atom, where the phenyl group may be substituted with other groups but excludes fluoroalkyl groups as substituents; and wherein (i) R 2 is the second fluoroalkyl-substituted phenyl group that is the same as first fluoroalkyl-substituted phenyl group, and either R 3 is the second fluoro/chloro-substituted phenyl group or R 3 is the third fluoroalkyl-substituted phenyl group that is different from the first fluoroalkyl-substituted phenyl group; or (ii) R 2 is the second fluoroalkyl-substituted phenyl group that is different from the first fluoroalkyl-substituted phenyl group, and R 3 is the third fluoroalkyl-substituted phenyl group that is different from the first fluoroalkyl-substituted phenyl group and the second fluoroalkyl-substituted phenyl group; or (iii) the Lewis acid catalyst has the general formula M(R 1) 1 (R 2) 1 (R 3) 1 (R 4) 1. (i) R 2 is the second fluoroalkyl-substituted phenyl group that is the same as first fluoroalkyl-substituted phenyl group, and either R 3 is the second fluoro/chloro-substituted phenyl group or R 3 is the third fluoroalkyl-substituted phenyl group that is different from the first fluoroalkyl-substituted phenyl group; or (ii) R 2 is the second fluoroalkyl-substituted phenyl group that is different from the first fluoroalkyl-substituted phenyl group, and R 3 is the third fluoroalkyl-substituted phenyl group that is different from the first fluoroalkyl-substituted phenyl group and the second fluoroalkyl-substituted phenyl group; or (iii) the Lewis acid catalyst has the general formula M(R 1) 1 (R 2) 1 (R 3) 1 (R 4) 1.