Denbury, an independent energy company with operations and assets focused on Carbon Capture, Use, and Storage (CCUS) and Enhanced Oil Recovery (EOR), and Weyerhaeuser announced on Monday an agreement for the evaluation and potential development of a CO2 sequestration site in Mississippi.
Wood Markets News
Consumer Price Index Increases 0.1% in November; Year-Over-Year All-Item Index Up 7.1%
The US Bureau of Labor Statistics on Tuesday reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1% in November, on a seasonally adjusted basis, after increasing 0.4% in both October and September. Over the past 12 months, the all-item index has increased 7.1% before seasonal adjustment.
BC Premier David Eby Commits to Protecting the Province’s Biodiversity
In mandate letters to his land stewardship and forestry ministers, recently elected BC Premier David Eby says he wants to double the amount of protected land in the province, support new Indigenous Protected and Conserved Areas, and move faster on recommendations around the logging of old growth trees.
Stora Enso Strengthening Focus on Specialized Pulp Grades
Stora Enso announced on Tuesday that it was strengthening its focus on specialized pulp grades by investing €38 million in unbleached kraft pulp (UKP) production at its Enocell site in Finland and €42 million in fluff pulp production improvement at its Skutskär site in Sweden.
Median Asking Rent in November Posts Smallest Increase in 15 Months
Redfin reported on Tuesday that the median asking rent climbed 7.4% year-over-year in November to $2,007. This is the smallest increase in 15 months and the sixth-consecutive month in which annual rent growth slowed.
Ontario and Canada Investing in Clean Energy Products Using Forest Biomass
The governments of Ontario and Canada jointly announced on Tuesday that they are investing $11.3 million (CAD) to expand CHAR Technologies’ facility in Thorold, Ontario, to produce renewable natural gas (RNG) and biocarbon. The move will create the largest facility of its kind in Canada.
Nuveen’s New Global Timberland Strategy Arm Purchases 47,751 Acres in US Pacific Northwest
Nuveen’s newly launched global timberland strategy arm, Nuveen Natural Capital, announced on Monday that it has made its first portfolio acquisition, purchasing 47,751 acres of timberland in Washington and Oregon from Green Crow for an undisclosed amount.
Prices of Building Materials Decline for Third Consecutive Month in November
A closer look at the Bureau of Labor Statistics November 2022 Producer Price Index (PPI) report reveals that the prices of building materials declined 0.3% in November (not seasonally adjusted). The index has declined five out of the past six months for the first time since 2015.
Alberta’s Mountain Pine Beetle Population Continues to Decline
Since its most recent peak in 2019, the mountain pine beetle population in Alberta has declined 94%. The drop reflects the continuous effort to slow the spread following the 2019 and 2020 winter seasons. Sustained periods of widespread, extreme cold also increased beetle mortality.
Ironwood Mill Ordered to Clean Up Massive Chip Pile
The Ironwood Veneer Mill located near Dolores, Colorado, has entered into a court-ordered agreement with Montezuma County to remove a massive chip pile which is in violation of Colorado state disposal regulations. The mill began operations in 2020 but quickly ran into problems.