In recent years globalization has been one of the most disruptive forces - creating new opportunities by challenging well established economic structures.

A key enabler of globalization has been the application of information technology, especially enabling supply chain management processes that span the globe. Coupled with low energy costs, the manufacturing and delivery of material goods from distant locations has become more than cost competitive, leading to the erosion of Canada's traditional manufacturing base.

If energy costs increase rapidly in the coming years, transportation costs are likely to become limiting again. Some observers see a resurgence of 'make and grow' locally as a consequence.

In contrast to manufacturing and agriculture, rising energy costs are unlikely to have any significant impact on the electronic distribution of information. It is easy to share ever larger volumes of information with more people, more quickly, easily and cheaply. Indeed, many countries already have a significant information technology infrastructure advantages over Canada in bandwidth, availability and use of mobile devices.

The potential impact to Canada of these advantages in coming years is likely to be at least as profound as we have seen in the manufacturing sector, and the impact will likely be felt most severely in media - from advertising to entertainment.