The drop in oil revenues has prompted the western province of Alberta to withdraw its promise to fund the city of Edmonton’s bid to host the Commonwealth Games in 2022. Without the province’s financial backing the city is forced to withdraw its bid.
The provincial government had promised to pay most of the one-billion-dollar cost back when oil was selling at more than $100 a barrel. Now that a barrel sells for about half that, the province is expecting the reduced royalties to leave it with a deficit of up to seven-billion dollars over the next year.
Edmonton’s mayor called the decision “disheartening” but said the city would try again to host the games in 2026.
The games were established in 1930 and brought together athletes from the many countries in the British Empire. Last year they were held in Glasgow, Scotland and 71 nations including Canada participated.
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