Low Oil Prices Impact Calgary Stampede Chuckwagon Tarp Auction
CALGARY: There was another indicator last night of just how hard Canada’s oil and gas industry has been hit by the economic downturn.
The annual chuckwagon canvas auction at the Calgary Stampede allows companies to bid to have their logo carried on the wagon tarps at the Stampede rodeo.
When the economy is booming the amount of the bids are high but when things go bad it reflects in the auction results.
Nearly $2.3 Million was bid for the drivers Thursday night — that’s $480,000, or 18 per cent, lower than last year.