Yeah, this is something I struggle with. My grandmother once made a huge effort to find these aluminum water bottles that were theoretically better for the environment and were made locally. Later on they turned out to be made in China, like everything else.
I've also been reading some stuff suggesting that driving a few extra miles to go to a remote but "local" farm ends up costing more oil, since the food produced overseas is shipped in huge bulk that works out to be more efficient.
Oil consumption isn't the only thing that matters, but does make for a metric that should at least be possible to come up with.
Lately I've been thinking about all of the various services and products I consume and how pretty much all of them are bad for the world in one way or another, large or small. Some of the problems associated with them I am less concerned about. Some of them could be construed as good things (i.e. sweat shop labor DOES provide jobs, whatever impact it might or might not have on the overall quality of life).
In general I'd like to live my life having as minimal a negative impact on the world as possible. But "negative impact" is a hugely broad topic and there are a million variables to consider and I just don't have time.
The best solution, I think, would be to have a wikipedia-like website where individual people with knowledge of specific problems can start tagging specific products with the types of negative consequences associated with them, and (somehow) sort those consequences into categories that individuals can decide how much to worry about. Over time it could eventually become a fairly efficient way to track the utility value of things.
I'm sort of hoping something like this already exists, even if in an infant form, and that someone here knows about it. But I doubt it, so the I guess this falls mostly under the post category of "hey someone other than me should devote a bunch of time and energy to this project that I myself am not qualified to do." But maybe a few people here at least have a better idea than I do of the scope of the requirements for it, so the idea can be refined a bit.