Welcome to another edition of Wood Matters. With the hurly burly of other business within PF Olsen, this edition is slimmer than usual. However, we have our usual insights from our CEO, Peter Clark, who puts a strong case that innovation is the only enduring competitive advantage.

We summarise the recent Government announcements on the New Zealand Emissions Trading Scheme and conclude that there is now sufficient certainty for forest owners and would-be forest owners to take action.

Feedback from a reader has lead the editor into additional commentary on long-term timber prices and some background to the 1993 price spike.

We report on the recent deferral of the Russian log tariff and have a brief commentary on the current state of the log market.