The Global Wood Summit kicked-off in Vancouver yesterday with forecasts of log and lumber woes. In related news: the world is running out of low-cost logs, and when will China start buying lumber again. Meanwhile: the US economy achieves its “soft landing” goal; UPM reports positive Q3, 2024 earnings; and Kelowna approves Tolko mill redevelopment plan.
In Forestry/Climate news: US Forest Service partners to conserve private forestlands; Oregon launches prescribed fire liability program; action against forest biomass subsidies gains momentum at COP16; six EU countries pledge money for biodiversity protection; and the new threat to Brazil’s forests—chemicals.
Kelly McCloskey, Tree Frog Editor
The long awaited Global Wood Summit kicked-off in Vancouver yesterday with a detailed overview of global log and lumber trends by forest market analyst and conference co-host Russ Taylor. With due notice that “forecasters are almost always wrong”, Taylor described the long list of current and expected “fibre supply disruptors”, (including the war in Ukraine and in the Middle East), and the many negative policy initiatives, (such as the EU Deforestation Regulation and new logging restrictions in BC and Oregon), that are exacerbating the availability and supply of low-cost softwood logs world wide. Within North America, potential growth in log and lumber supply is limited to the US South, and other than beetle and wildfire killed logs in select regions, there are few other new sources of wood, said Taylor.
The US economy seems to have pulled off a remarkable and historic achievement. Gross domestic product expanded at an annualized rate of 2.8% in the third quarter, the Commerce Department said Wednesday. That’s a slightly weaker pace than the second quarter’s 3% rate and above the 2.6% rate economists projected. As the US economy continued to expand from July through September, inflation drifted lower toward the Federal Reserve’s 2% target during that same period, the report showed. Several economists tell CNN that the economy has finally pulled off an exceptionally rare achievement known as a soft landing, a scenario in which inflation is tamed without a recession. …Meanwhile, businesses continued to invest during the July-through-September period, though at a slightly softer pace than earlier in the year. Government spending at both the federal and state level also contributed to third-quarter economic growth.
Today, the U.S. Department of Agriculture’s (USDA) Forest Service announced an investment of more than $265 million to conserve nearly 335,000 acres of ecologically and economically significant forestlands across the nation, in partnership with states across the country, thanks to funding from President Biden’s Inflation Reduction Act. The Forest Service will fund 21 projects in 17 states to conserve working forests that support rural economies. In 2024 alone, the Forest Service has invested nearly $420 million to conserve more than 500,000 acres through the 
