First Time in 100+ Year History – Calgary Stampede, Energy Industry Mainstay, Canceled by Virus
April 24, 2020 EnergyNow Media
By Kevin Orland
(Bloomberg) The Calgary Stampede, an annual 10-day festival that has served as a dealmaking venue and socializing tradition for Canada’s oil industry, has been canceled this year to prevent the spread of the coronavirus.The event, scheduled for July 3 to 12, will not be held this year, Calgary Stampede President Dana Peers said at a news conference Thursday.The Stampede, which was started in 1912 as a way to celebrate Calgary’s Old West heritage, in recent decades became a mainstay for Canada’s energy companies, almost all of whom are based the city. While many companies have scaled back or eliminated their Stampede parties since an oil price crash in 2014, for years executives have used the festival to make connections and strike deals in suites lining the rodeo arena where cowboys ride bucking bulls and rope calves.The event, which many visitors attend wearing cowboy hats and boots, is a major tourist attraction for Calgary and is estimated to contribute more than C$540 million ($383 million) to Alberta’s economy. About 1.28 million people attended last year’s Stampede, which featured musical performances by Feist, T-Pain and Death Cab for Cutie. This year’s festival was set to include concerts by country stars Blake Shelton and Maren Morris.
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