Parts of Quebec and Alberta have been engulfed in wildfires that have caused evacuations and temporary shutdowns of natural resource infrastructure. Though the extent of the damage has not yet been determined, the impact will weigh on Canada’s lumber production, timber analyst John Duncanson of Corton Capital, told BNN Bloomberg in an interview on Wednesday.
“The Canadian lumber industry is already suffering from a supply issue. Timber has been impacted by disease and manmade policies that already put pressure on available supply. These wildfires will only make this worse,” he added. He agrees that the situation calls for political intervention when it comes to how Canadian forests are managed to help alleviate the issues.
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