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Talking about long term averages for RP at $50 makes no sense. A long term (a couple of decades for example) average of $50 means that the price in real terms is going down. It always amazes me when people totally disregard the effect of inflation. Why would anything go back to prices set at a time when a fixed number of dollars had far greater purchasing power? I very much doubt anyone would be able to make a profit producing RP at $50 USD. Ten years ago maybe but not now. Please understand that $50 USD today is certainly not the same in purchasing power terms as $50 USD 10 or 15 yers ago. Many commodities are very undervalued at the moment as investors time and again it seems compares apples and oranges with no regard to monetary and price inflation.