Calgary Stampede chuckwagon auction gives cause for tentative hope
CALGARY — There was tentative optimism Thursday night following the Calgary Stampede chuckwagon canvas auction, considered an economic bellwether for the oilpatch.
The annual event raised $2.4 million, a notch above the $2.3 million pledged last year, when Alberta was deep within the throes of the crash in crude prices.
“We’re starting to see the economy come around and this is very positive news as we start to enter into our ad campaigns and our launch,” said Dave Sibbald, president of the Calgary Stampede board of directors.
Still, the auction results were far off the record year of 2012, when bidders pledged just over $4 million at a time when oil prices were hovering above US$100 per barrel, more than double what they’re trading for now.