With the potential of a nationwide railroad strike in September drawing ever closer, the National Carrier’s Conference Committee on Monday afternoon reported that tentative deals have been reached with the Transportation Communications Union/IAM, Brotherhood of Railway Carmen, and International Association of Machinists and Aerospace Workers.
Wood Markets News
BC Forest Minister Responds to ONA First Nation Claims of Failure to Protect Old-Growth Forests and Caribou Habitat in Revelstoke Area
Last week, the ONA, which consists of seven First Nations in the Okanagan and Similkameen, rebuked the BC provincial government for failing to protect old growth forests and critical caribou habitat. The provincial government has responded saying in fact that it has deferred the logging of old-growth forests in the Revelstoke area.
Asia-Pacific Economic Cooperation (APEC) Members Move to Strengthen Sustainable Forest Management
Asia-Pacific Economic Cooperation (APEC) ministers responsible for forestry are calling for greater cooperation between their members to help curb deforestation and further biodiversity loss, as the region increases its fight against climate change and advances action for a sustainable future.
Putin Warns Forest Fire Conditions in Russia Could Deteriorate Further
Russia’s forest fire season, which has been becoming more damaging due to climate change, traditionally lasts throughout the summer. Ryazan region on Monday, declared a state of emergency with fires covering a 9,000-hectare area, causing smog in nearby Moscow.
Ireland’s “Project Woodland” Strategy Draws Ire From Irish Tree Farmers
The independent “Project Woodland Regulatory Review Report” was to look into the forestry regulatory system in Ireland and explore whether improvements could be made to the licensing system, while working within the parameters of Irish and EU environmental laws, as well as increase the number of trees being planted.
US National Interagency Fire Center Wildfire Update for August 29, 2022: No New Fires
The US National Interagency Fire Center reported on Monday that the total number of large wildfires and complexes currently burning in the US has been further reduced to 42, with more than 300,226 acres across 9 different states currently burning. In the past 24 hours, no new wildfires have been reported.
Worldwide Wood Pellet Demand Continues to Rise; US and Canada to Increase Production
According to Biomass Magazine, demand for wood pellets continues to skyrocket globally. Tight supplies, the author says, are likely to spur significant investment in new production facilities around the world.
Apartment Construction in US at Highest Level in Five Decades
According to RentCafe, by the end of 2022 there is expected to be 420,000 or more new apartments built in the US. This will mark the first time since 1972 that apartment deliveries have exceeded 400,000 units.
New Listings of Homes For Sale Dropped 15% Year-Over-Year in 4-Week Period Ending August 21, 2022
Redfin reported on Thursday that in the four-week period ending August 21st, new listings of homes fell 15% year-over-year. This marks the largest annual decline since the start of the COVID-19 pandemic.
Inflation Continues to Impact Personal Income and Outlays in July
Personal income increased $47.0 billion, or 0.2%, in July. Disposable personal income increased $37.6 billion, or 0.2%, in July. Personal consumption expenditures increased $23.7 billion, or 0.1%, in July.