Why Dead Trees Are ‘the Hottest Commodity on the Planet’

By Robinson Meyer
The Atlantic
April 27, 2021
Category: Business & Politics
Region: Canada, United States

Bitcoin? Blasé. Gold? Going out of style. “The hottest commodity on the planet,” according to Dustin Jalbert, an economist at the market-research firm Fastmarkets, is lumber. …From 2015 to 2019, lumber traded at $381 for 1,000 board feet, according to Fastmarkets. This month, it reached an all-time high of $1,104 for the same amount. The lumber shortage has added at least $24,000 to the cost of a new home, according to the National Association of Homebuilders.  On its face, the surge in lumber’s price has a simple explanation: Demand for wood is really high right now.  …Since 2018, a one-two punch of environmental harms worsened by climate change has devastated the lumber industry in Canada, the largest lumber exporter to the United States. A catastrophic and multi-decade outbreak of bark-eating beetles, followed by a series of historic wildfire seasons, have led to lasting economic damage in British Columbia, a crucial lumber-providing province.

Read More