The government is acting as if GM’s main problem is that it stubbornly refused to enter the lucrative market for small, fuel‐efficient cars. But the market for small, fuel efficient cars is not lucrative–they’re the cars with the thinnest margins. And no one’s making it up on volume, either: at the height of last year’s oil spike, when barrels of Brent Crude were being quoted in first‐born sons, small cars soared to … 20% of the American market.

Megan McArdle, What’s Good for GM isn’t What’s Good For America