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Alberta

Canadian Finals Rodeo 49 Wraps Up with Record-Breaking Success

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As we bid adieu to the exhilarating 49th Canadian Finals Rodeo (CFR) powered by ATB, we want to extend our heartfelt thanks to the community of Central Alberta and rodeo enthusiasts for their unwavering support throughout this incredible event. This year’s Canadian Finals Rodeo (CFR) in Red Deer shattered all previous records with an astounding 37,000 tickets sold. The highly anticipated Cabaret, featuring a post-rodeo party showcasing the CFR All Star Band of incredibly talented musicians, was a resounding success, drawing in an impressive crowd of 13,000 attendees.

The Ropin’ into the Holiday Market, featuring 99 trade show vendors, added an extra layer of excitement and variety to the CFR experience. Attendees were treated to a diverse array of offerings, from western apparel to equine, making for a memorable shopping experience. This bustling market also drew in community members who may not have been initially there for the rodeo, further enhancing the sense of community engagement and enjoyment.

Apart from the thrilling rodeo action, attendees were also treated to exciting activities free of charge in the CFR Experience Arena throughout all five days of CFR. This included Ultimate Bullfighting and Equine Equus
Experiences, the Miss Rodeo Canada Horsemanship competition, Canadian Championship Dummy Roping, the Futurity Canadian Made Bucking Horse Sale, the H Bar Auctions Horsemanship Show and Sale, and to cap it all off, the Mini Chuckwagons entertained with a morning of races!

In addition to these remarkable achievements, the Rotary Club of Red Deer hosted an electrifying 50/50 event, where one lucky winner walked away with an astonishing $99,537.50 in prize money. These outstanding achievements have solidified this year’s CFR as the event with the highest attendance ever recorded in Red Deer’s CFR history.

None of this would have been possible without the generous support of our sponsors. Their invaluable contributions played a pivotal role in making this year’s CFR an unforgettable experience for all involved. A special thank you is owed to the dedicated staff and volunteers who poured their hearts and souls into crafting an exceptional guest experience. Over 3,000 volunteer hours were logged, with the tireless efforts of 400 volunteers ensuring that every aspect of the event ran seamlessly.

In the spirit of giving back, the Westerner Park team was proud to present a donation of $6,615.00 to the Benevolent Rodeo Fund. This contribution exemplifies our commitment to supporting the rodeo community and its
members in times of need.

For a comprehensive overview of the rodeo results, we invite enthusiasts to visit crfreddeer.com. Here, you can find detailed information on the incredible performances and accomplishments of our talented rodeo
competitors.

Once again, we extend our deepest gratitude to everyone who played a part in making CFR 49 a resounding success. The combined efforts of the community, sponsors, staff, volunteers, vendors, and attendees have left an indelible mark, and we look forward to building upon this support for future events at Westerner Park.

About Westerner Park

Westerner Park is Central Alberta’s largest tradeshow, agricultural, sports, entertainment, and convention facility. A not-for-profit organization and agricultural society, Westerner Park typically generates $150 million annually in economic activity, hosting over 1,500 events and 1.5 million visitors each year.

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Alberta

Energy sector will fuel Alberta economy and Canada’s exports for many years to come

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From the Fraser Institute

By Jock Finlayson

By any measure, Alberta is an energy powerhouse—within Canada, but also on a global scale. In 2023, it produced 85 per cent of Canada’s oil and three-fifths of the country’s natural gas. Most of Canada’s oil reserves are in Alberta, along with a majority of natural gas reserves. Alberta is the beating heart of the Canadian energy economy. And energy, in turn, accounts for one-quarter of Canada’s international exports.

Consider some key facts about the province’s energy landscape, as noted in the Alberta Energy Regulator’s (AER) 2023 annual report. Oil and natural gas production continued to rise (on a volume basis) in 2023, on the heels of steady increases over the preceding half decade. However, the dollar value of Alberta’s oil and gas production fell in 2023, as the surging prices recorded in 2022 following Russia’s invasion of Ukraine retreated. Capital spending in the province’s energy sector reached $30 billion in 2023, making it the leading driver of private-sector investment. And completion of the Trans Mountain pipeline expansion project has opened new offshore export avenues for Canada’s oil industry and should boost Alberta’s energy production and exports going forward.

In a world striving to address climate change, Alberta’s hydrocarbon-heavy energy sector faces challenges. At some point, the world may start to consume less oil and, later, less natural gas (in absolute terms). But such “peak” consumption hasn’t arrived yet, nor does it appear imminent. While the demand for certain refined petroleum products is trending down in some advanced economies, particularly in Europe, we should take a broader global perspective when assessing energy demand and supply trends.

Looking at the worldwide picture, Goldman Sachs’ 2024 global energy forecast predicts that “oil usage will increase through 2034” thanks to strong demand in emerging markets and growing production of petrochemicals that depend on oil as the principal feedstock. Global demand for natural gas (including LNG) will also continue to increase, particularly since natural gas is the least carbon-intensive fossil fuel and more of it is being traded in the form of liquefied natural gas (LNG).

Against this backdrop, there are reasons to be optimistic about the prospects for Alberta’s energy sector, particularly if the federal government dials back some of the economically destructive energy and climate policies adopted by the last government. According to the AER’s “base case” forecast, overall energy output will expand over the next 10 years. Oilsands output is projected to grow modestly; natural gas production will also rise, in part due to greater demand for Alberta’s upstream gas from LNG operators in British Columbia.

The AER’s forecast also points to a positive trajectory for capital spending across the province’s energy sector. The agency sees annual investment rising from almost $30 billion to $40 billion by 2033. Most of this takes place in the oil and gas industry, but “emerging” energy resources and projects aimed at climate mitigation are expected to represent a bigger slice of energy-related capital spending going forward.

Like many other oil and gas producing jurisdictions, Alberta must navigate the bumpy journey to a lower-carbon future. But the world is set to remain dependent on fossil fuels for decades to come. This suggests the energy sector will continue to underpin not only the Alberta economy but also Canada’s export portfolio for the foreseeable future.

Jock Finlayson

Senior Fellow, Fraser Institute
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Alberta

The beauty of economic corridors: Inside Alberta’s work to link products with new markets

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From the Canadian Energy Centre

Q&A with Devin Dreeshen, Minister of Transport and Economic Corridors

Devin Dreeshen, Alberta’s Minister of Transportation
and Economic Corridors.

CEC: How have recent developments impacted Alberta’s ability to expand trade routes and access new markets for energy and natural resources?

Dreeshen: With the U.S. trade dispute going on right now, it’s great to see that other provinces and the federal government are taking an interest in our east, west and northern trade routes, something that we in Alberta have been advocating for a long time.

We signed agreements with Saskatchewan and Manitoba to have an economic corridor to stretch across the prairies, as well as a recent agreement with the Northwest Territories to go north. With the leadership of Premier Danielle Smith, she’s been working on a BC, prairie and three northern territories economic corridor agreement with pretty much the entire western and northern block of Canada.

There has been a tremendous amount of work trying to get Alberta products to market and to make sure we can build big projects in Canada again.

CEC: Which infrastructure projects, whether pipeline, rail or port expansions, do you see as the most viable for improving Alberta’s global market access?

Dreeshen: We look at everything. Obviously, pipelines are the safest way to transport oil and gas, but also rail is part of the mix of getting over four million barrels per day to markets around the world.

The beauty of economic corridors is that it’s a swath of land that can have any type of utility in it, whether it be a roadway, railway, pipeline or a utility line. When you have all the environmental permits that are approved in a timely manner, and you have that designated swath of land, it politically de-risks any type of project.

CEC: A key focus of your ministry has been expanding trade corridors, including an agreement with Saskatchewan and Manitoba to explore access to Hudson’s Bay. Is there any interest from industry in developing this corridor further?

Dreeshen: There’s been lots of talk [about] Hudson Bay, a trade corridor with rail and port access. We’ve seen some improvements to go to Churchill, but also an interest in the Nelson River.

We’re starting to see more confidence in the private sector and industry wanting to build these projects. It’s great that governments can get together and work on a common goal to build things here in Canada.

CEC: What is your vision for Alberta’s future as a leader in global trade, and how do economic corridors fit into that strategy?

Dreeshen: Premier Smith has talked about C-69 being repealed by the federal government [and] the reversal of the West Coast tanker ban, which targets Alberta energy going west out of the Pacific.

There’s a lot of work that needs to be done on the federal side. Alberta has been doing a lot of the heavy lifting when it comes to economic corridors.

We’ve asked the federal government if they could develop an economic corridor agency. We want to make sure that the federal government can come to the table, work with provinces [and] work with First Nations across this country to make sure that we can see these projects being built again here in Canada.

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