Alberta is desperate. Its losses in oil sales have made it so much so that the provincial government has ordered oil companies to curtail production by 325,000 barrels per day — or 8.75 per cent of total volume — for up to one year beginning Jan. 1, 2019. Premier Rachel Notley’s controversial plan is to force producers to constrain supply to drive up prices, something she portrays as a regrettable last resort. Certainly the only people who would be completely happy with this imperfect solution are the radical environmentalists who want to stop oilsands production altogether. Curtailment was a first step for them.
Full column: Calgary Herald