As I recall, the .308 was the 7.62 NATO developed for the M-14 by necking down the .30-06.
While I understand the rationale for necking it down, I always wished the M-14 had been essentially a detachable-magazine M-1 Garand, retaining the .30-06: basically, a sleek, light successor to the BAR.
Shortening. They both seat the same 7.62 (.30) bullets.