A new report by the U.S. Energy Information Administration (EIA) shows that oil consumption will remain flat through 2030, shedding light on the slow growth of hybrid and electric vehicles.

The EIA report says that increases in fuel-efficiency standards, use of renewable fuels and advances in technology will translate into less dependence on imported oil. At the same time, the reports projects that hybrid vehicles will comprise 38% of total sales by 2030 – a hefty share if any investor is willing to wait 21 years for that kind of growth.

While some form of battery-powered vehicle will emerge in the coming decades, the U.S. market will also see a diversification in fuel consumption flex-fuel, hybrid, and diesel vehicles, according to the…