Whoops! Fell down a hole to Nowhere. White's version of removal is often relegated to the role of exile…sometimes you get to destroy something if its attacking, but usual direct removal takes the flavor perspective of an individual being cast out from the group, sent so some forsaken shore where he/she/it is never seen again.
Like Napoleon, your creature is alive, yet unable to affect the outcome of future battles. Instead it reads books, stares out to the distant horizon, and contemplates what might have been. Perhaps you get a mangled letter or two, hardly readable in their sordid idle-mindedness.
I have always been a greater fan of black. While white may get more of the "cream" when it comes to removal…black certainly isn't sending anyone on a vacation. Instead, black is sending you into a deep, dark hole. You can share your hopes and dreams with the rats, sir. They're all ears.
I think if Oubliette were remade today, it would also include equipment. This is a potential way for black to get a leg up on the standard Oblivion Ring effect while still maintaining some of its individuality. And you could still cost it as 1BB. A stronger form of Faceless Butcher, without the creature attacked.
Something to think about for when the plane of Rabiah gets the Coldsnap treatment. Hopefully soon…eh, Wizards?