Maybe the paperless office is closer than we think.
Weyerhaeuser, the big paper and timber company, just reported a $1.2 billion loss for the fourth quarter, as well as $1.8 billion loss for all of 2008 compared to net earnings of $790 million for all of 2007.
The company is suffering in its wood products segment as the housing market is dead, and lumber prices are sagging. For the quarter the segment produced a $960 million dollar loss. The company’s outlook for 2009 isn’t very positive for the segment. They “expect challenging market conditions to continue.”
This all adds up to bad news for Weyehaeuser investors, but good news for environmentalists. Fewer trees will be chopped down, fewer will be delivered. Combined with sagging industrial production it all means fewer carbon emissions.
In the short term, a recession proves to be good for the environment once again.
Is A Recession Good For The Environment?