Abstract

Timber trespass in Louisiana is a civil offense punishable by restitution of three times the timber’s current market value, yet whether this compensation level alone is adequate at present is unclear. We modeled a loblolly pine plantation across a range of site qualities in Louisiana. First, we estimated financial returns from a traditional sawtimber rotation using historical state timber prices that included three harvests: two thinnings and a final cut; harvest times differed by site quality. We then assumed all timber was taken at the first thinning. Net present value (NPV) determined appropriateness of compensation at 1×, 2×, and 3× stumpage revenues and was compared to the traditional rotation’s NPV. The NPVs were calculated with and without additional settlement for reforestation costs. We concluded that reforestation costs in addition to 3× stumpage value reimbursement were required to negate the effect of timber prices and better the traditional rotation’s NPV.

This article is published and distributed under the terms of the Oxford University Press, Standard Journals Publication Model (https://dbpia.nl.go.kr/journals/pages/open_access/funder_policies/chorus/standard_publication_model)
You do not currently have access to this article.

Comments

0 Comments
Submit a comment
You have entered an invalid code
Thank you for submitting a comment on this article. Your comment will be reviewed and published at the journal's discretion. Please check for further notifications by email.