Re: China chops down Indonesia forest for the 2008 olympics


foote wrote:
Indonesia announced that China had placed a $1 billion rush order for a
million cubic yards oa a prized reddish-brown hardwood, called merbau, to be
used in the construction of its sports facilities for the 2008 olympics..."

Cubic "yards"?

I did a little (10 minutes of googling) research on merbau, and the
price in the past year has skyrocketed. A billion buckeroos for a
million "yards" (???) is pretty steep, but the price went from 250 to
750 in the last year.

Hell, anybody who thought a little about it could see this happening 20
years ago. There is a run on tropical hardwoods, as tangible
investments. Greedy speculators are cutting and stacking has fast as
they can. The more they cut, the scarcer it becomes, the more their
hoard is worth. Either make revolution, or kiss it goodbye.

.

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