I am afraid Grist are a little off the mark here.
Globalization death watch, Part I [Grist]
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 percent of the gasoline used in the United States. While the greatest focus has been on cars, trucking and airline companies are facing collapse.
The International Air Transport Association just published a new report in which they call the situation of many airlines "desperate."