On September 28, 2004 the price for a barrel of oil reached and passed the dreaded $50 mark. The price hit $50.47 in New York crude futures. The question is will it go any higher and what is the outcome? On the 29 of September, the prices fell on average of $.80 for a barrel, but I believe the price will go back up. One of the largest suppliers of crude oil is Nigeria. Their country produces 2.3 million barrels per day. Recently, there is a fear from rebels saying they would start war with Nigeria unless some agreement can be made. If the war is started then we will see a large increase in the price of a barrel of oil. Many believe the price will soon push through $52-$53 a barrel. In the micros, this will have a large effect on many businesses. One in particular is the transportation business. Shipping cost will go through the roof and people will not buy as much because of high costs. I believe this will slow down the economy of the United States immensely.