Canada to put on the brakes on oil production?

Well, they do it for milk (weren't we just talking about that on another forum?

""One of the large Canadian oil producers, Cenovus Energy, is calling upon the government of Alberta to mandate temporary production cuts at all drillers in a bid to ease Canadian bottlenecks that have resulted in Canada’s heavy oil prices tumbling to a record-low discount of US$50 to WTI.

Government probably won't push this through, but this may end up being a signal to the other producers that Cenovus will taper production, if they do too.

 

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