Spikes In Oil Prices and Unrest in Middle East Could Mean a Boost for the Electric Car

Recent events in Middle East may help pave the way for the success of the electric car

Stamford, CT - February 24, 2011 - Oil prices have been on a roller coaster ride in recent weeks thanks to unrest in the Middle East, with crude oil prices briefly topping $103 a barrel on Thursday before retreating. Many industry experts predict volatility and rising oil prices for at least the immediate future and perhaps much longer. Proponents of the electric car say if there is a silver lining to be found it is that the unpredictable oil market may help make Americans more receptive to the advent of the electric car.

Even prior to recent events, the electric car market has been experiencing tremendous growth. The Chevy Volt, a plug-in electric car, launched in U.S. markets in mid-December and 2012 models will be available nationwide later this year. Nissan recently launched the electric Leaf and Ford will launch an electric version of its popular Focus model towards the end of 2011.

According to Pike Research, a clean-tech forecaster, the U.S. will sell 650,000 electric vehicles a year by 2015 with the electric car market rising to $1.5 billion that same year. Recent independent studies report that by 2020, electric and other «green» cars will account for one third of total global car sales.

Many people are already lining up for their chance to «drive electric.» One of those who is counting the days is Jeffrey Mayer, President and CEO of MXenergy, one of the nation's fastest growing independent energy providers. Mayer already has his name on a Chevy Volt and is anxiously awaiting the call that his «Victory Red» Volt has arrived.

«The Volt is more than just a car. It represents an entirely new stage of automotive development,» says Mayer. « It is an achievement of American ingenuity and a tremendous step forward in this country's quest for energy independence. I for one can't wait to get behind the wheel.»

As the founder of MXenergy, Mayer has exhibited a long-term commitment to the issues of sustainability and energy efficiency and independence. MXenergy is a member of the Chicago Climate Exchange and just announced it has achieved carbon neutrality for the third straight year.

In 2007, Mayer and MXenergy launched the Earth Friendly Partnership for customers to join the fight against global warming, enabling them to make their homes and businesses carbon-neutral by also purchasing CCX afforestation offsets. Customers who join the partnership pay only a fraction of a penny more for power service, with MXenergy subsidizing the balance.

According to Mayer, the decision to go electric was just a natural continuation of his commitment to efficiency and sustainability. Interested people can read about Mayer's decision and Volt excitement at his CEO blog at http://mxpressions.mxenergy.com/2011/02/paean-to-volt.html

Electric cars have an average efficiency of 80% compared to 15% for conventional gasoline engines.


About MXenergy

MXenergy is one of the fastest growing retail natural gas and electricity suppliers in North America, serving approximately 500,000 customers in 41 utility territories in the United States and Canada. For over 11 years, the company has provided millions of customers with a choice in how they purchase energy to run their homes and businesses. Founded in 1999 to provide natural gas and electricity to consumers in deregulated energy markets, MXenergy helps residential customers and small business owners control their energy bills by providing both fixed and variable rate plans. MXenergy is committed to best practices in environmental conservation, supporting local communities through various outreach programs and is a member of the Chicago Climate Exchange. More information can be found at www.mxenergy.com

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