Globalization death watch, Part IQuicklink submitted By Laudyms Permalink
|Globalization was built on cheap oil. As that era draws to a close, so will the current phase of global integration, whether Thomas Friedman, Wal-Mart, and all those involved in intercontinental trade like it or not.
The current transportation infrastructure is based on cars, trucks, airplanes, and cargo ships, which together consume about 70% of the gasoline used in the US. Cargo shipping costs have nearly tripled since 2000