The blog Alterdestiny explores the possibility:
"Let's think about how expensive oil changes the globalization equation. First of all, it may mean that the trend of deindustrialization in the United States reverses itself. Perhaps this seems far-fetched in the face of GM's latest plant closings. But once it becomes economical again to manufacture items at home, we are likely to see factories again spring up. How does this then affect the developing world? Does it continue to develop? If manufacturing jobs aren't going to Cambodia or Honduras anymore, do those nations fall further into poverty? Or do they change their production for the local market, building localized economies that succeed because money was made through an earlier globalized economy? On the local front, do unions make a big comeback because both labor and capital will be less spatially flexible? Will US unions also be able to make big inroads in Mexico, since the border will be the one place where transnational manufacturing will still make sense?"