Are We Headed For A Local Market?

An interesting outcome of the rising oil cost is the possible curbing of manufacturing globalization.
If at one point in time a company might consider producing parts in one country shipping them to another country and selling in an third - Today’s high oil prices are prohibiting this kind of manufacturing.
Andrew quoted Larry Rohter saying

Cheap oil, the lubricant of quick, inexpensive transportation links across the world, may not return anytime soon, upsetting the logic of diffuse global supply chains that treat geography as a footnote in the pursuit of lower wages. Rising concern about global warming, the reaction against lost jobs in rich countries, worries about food safety and security, and the collapse of world trade talks in Geneva last week also signal that political and environmental concerns may make the calculus of globalization far more complex.

Andrew points out that that the breakdown of trade talks implies that countries are thinking local.
This is a good thing, on one hand, but could be problematic when trying to deal with greenhouse gas emissions, that would need attempts at a global level if it was going to go anywhere.
Without the benefits of trade agreements countries might be less likely to partake in the efforts… money talks, after all…