Heya Alex. Yes it can go lower but the rationale I have read is that as soon as you go below a certain part of the cost curve (ie if you go below what peoples cost of production is) it will take the producers out and bring the price back up. I was reading that this has gone up considerable between 2020 and 2022 and that 50th percentile is ~$115 and this used to be $80.
Is this true? I dont know if I can believe the actual point is this amount. But to me obviously a point does exist and it has gone up with inflation.
Target $18.72, page-8032
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