Newspaper article The Canadian Press

Chuckwagon-Auction

Newspaper article The Canadian Press

Chuckwagon-Auction

Article excerpt

CALGARY - Chuckwagon drivers and sponsors are hoping for the best as clouds of political and energy industry uncertainty gather ahead of the Calgary Stampede canvas auction tonight.

The success of the annual event is considered a bellwether for the Calgary-based oil and gas industry, as many of the sponsors who pay to have their company names on the 36 rigs competing in the 10-day July tribute to cowboy culture are energy industry players.

Champion driver Kurt Bensmiller, who won the chuckwagon derby for the fourth time in five years in 2018, says the calling of an Alberta election on Tuesday creates more uncertainty for an economy battered by recent commodity price volatility and slowing oilfield activity.

The current NDP government introduced controversial oil production curtailments in January and is investing in crude-by-rail capacity to fill a shortfall in export pipeline room. …

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