Great response from Marpincan on Investor village.
The problem with take away capacity in Alberta is 1) government, 2) government and 3) government. As such a forced cut in production other than giving the industry some short term relief does not solve anything and the short term increase in prices does more to bail the government out than anything else as prices will be up and so pressure will be off to get pipelines and other transport options approved.
A better solution would be for the industry to focus on profitability and survival and let the problem clearly land on the cause (government). This means minimal capital spending with a focus on maximized return on assets. The end result would be reduced production over time as the focus would be on the most profitable barrels, reduced taxes and royalties, and increased unemployment - as bad as the last one is, this is what puts the pressure on the government to do something. What it does for the industry is ensure survival and minimize the number of casualties. One must remember that the industry has bent over backwards trying to appease those that can not be reasoned with and that our blind government is still trying to reason with these people - IT DOES NOT WORK! It is finally time to say enough is enough.
For the Alberta worker that needs a job - go south my friend, go south - lots of work in the USA for well seasoned oil workers and at better pay as well. Canada's East coast had been sending workers west for decades and perhaps now Alberta will have to send them south for a while!!! The government needs to get the message and so far it is not!!!