The upside of high fuel prices? High transportation costs which may lead to some jobs returning back to the good ol’ USA… It just may be cheaper to make a T-shirt - or a computer - in the US than to shuffle raw materials and the finished product back and forth between continents.
It may be the kiss of death to over-globalization and the “Wal-Mart model of world domination.” For that, I’ll gladly pay $4/gallon…
More (with a slightly different angle) in the New York Times (Sunday, August 3, 2008, Shipping Costs Start to Crimp Globalization) and on NPR (Monday, August 4 2008.)
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