A rational person’s reaction might be, so what? The auto industry claims that, unless California and the Trump administration resolve their differences on fuel-economy standards, car makers will be forced to build two sets of cars for the U.S. market.
Don’t believe it. Car makers would mostly just raise the price of their pickups to make sure they sold fewer in California and covered their fuel-economy fines. They would also cut the price of their electric and other low-emission cars to make sure they sold more of them. And...