Developing Our National Forests While Houses Stand Empty
Tuesday, October 14th, 2008
I was watching a news program and that little ticker of news across the bottom said that an agreement was hatched between the largest private landowner in the country to use forest service roads for possible development in our forests. Plum Creek Timber Co. is the landowner. Plum Creek became an REIT in 1999.
An REIT is a Real Estate Investment Trust that allows investors to buy equity in large tracks of land. A REIT is also a pass through entity distributing 90%, although many distribute 100%, of their total net income to its equity holders. The equity holders are then taxed on that income, not the REIT. For a pretty good explanation about REIT’s read: http://money.howstuffworks.com/personal-finance/real-estate/reit.htm.
Plum Creek is first and foremost a lumber company, the heir to the timberland originally granted by the federal government to the Northern Pacific Railway in the 1860s according to Wikipedia. Plum Creek’s website states that they replant some 85 million seedlings per year, work closely with conservation groups to preserve wildlife habitat and protect clean water sources. A good thing environmentally since they own, or rather their shareholders own, close to 8 million acres of wooded forest land.
But Senators Jon Tester D-Montana, and Jeff Bingaman D-NM want an investigation into the new ruling that allows Plum Creek to use forest service drives because the closed door negotiations didn’t allow the public to weigh in. And I’m beginning to see why. Here’s the bad thing.
Some of the places developed by Plum Creek already are high-end lodge and golf facilities right in the middle of our national forests. Who does that cater to in these economic times? You and I aren’t going to stay and golf there. And what about developing subdivisions in these forests? An article in the International Herald Tribune stated, “Montana county officials say the proposal would make it easier for Plum Creek to sell timberland for houses or other development.” This may be the result of all the public/forest land the Bush Administration has auctioned off over the past 8 years.
Development??? There are empty houses standing all over the country so what the heck are we doing? Huge landowners like Plum Creek are no longer just harvesting wood and replanting, they are developing the land for high-end resorts so their shareholders make more money. These are some of our most pristine wild forestlands. It’s about as bad as Governor Crist of Florida filling in and developing the everglades when people are moving out of Florida because they can’t afford the homeowner’s premiums anymore.
So for as much as Plum Creek attempts to do for the environment, they equally hurt it with unnecessary development. It’s becoming a little clearer why there was such an onslaught against wolves especially around our national parks. We just got a stay of relief for the wolves that were scheduled for massive annihilation in the Yellowstone area. Plum Creek has a resort called “The Yellowstone Club,” and others like Moonlight Basin. These are high-end resorts and housing right in the heart of the very lands where these animals roam. Recently, buffalo have been slaughtered as well as wild mustang horses too. Ever wonder why? The excuses that were given for this massive kill were never very clear, but it’s becoming a lot more clear now.
I read about Bush’s plan to allow lumbering throughout our more dense forest areas like Idaho and surmised that development would soon follow. It just so happens that Plum Creek has its hand in natural resource business opportunities also that are relative to mineral extraction, natural gas production, and communication and transportation rights of way. That says a lot more. Mineral extraction and natural gas production is a whole other form of real estate development for big energy and another big motive for the animal removal and the easy, quiet deal to allow the use of forest service roads to facilitate Plum Creek.
The two Senators are worried that allowing Plum Creek to use forest service roads for development will set a precedent for other developers to do likewise. It looks to me like that was the plan all along. Clear out many of the animals that are under protection, make deals on the sly, and the next thing we’re asking is, “When did we lose our forests to homes and country clubs we don’t need?”
We certainly know what happens when humans attempt to habitate areas that are home to wild animals. It becomes a struggle for the critters who ultimately are eliminated as pests.
It doesn’t appear there are many sacred untouched tracts of land in our country anymore that are protected from development and the almighty dollar.
http://www.iht.com/articles/ap/2008/10/11/america/Forest-Road-Deal.php
http://en.wikipedia.org/wiki/Plum_Creek_Timber
http://www.plumcreek.com/AboutPlumCreek/tabid/54/Default.aspx
