The paper we have just heard brings together a number of the contributions Professor Zaremba has made in the area of timber products demand, price, and consumption. He has directed the attention of forest economists to a number of significant relationships that bear substantially on forest resource development and planning. Zaremba indicated that the demand for southern pine, in the form of both lumber and pulp products, can be expected to rise. The basis for this tendency lies chiefly in the anticipation of upward trends in population and income. A third determinant of demand, consumer preference, is critical, but can be forecast with less assurance. In the case of pulp and paper products, preference may add to the upward pressures on demand exerted by rising population and income. For lumber, on the other hand, weakening preferences may tend to modify the effect of other determinants. It remains to be seen how the lumber industry's recent aggressive measures to improve and promote their product will affect the demand for southern pine lumber. While the prospect of rising demand for southern pine was established, Zaremba's paper went well beyond the subject of demand. In turning from demand to consumption, that is bringing supply into the picture, the prospect we are given for southern pine lumber is drastically altered. Because of lagging productivity in the industry, supply is expected to continue to diminish. Even though demand will tend to rise, it is not anticipated that consumption will change appreciably. Unless rather drastic technological changes occur, consumption will be severely inhibited by steadily rising prices. Thus, the position of the southern pine lumber industry differs appreciably from the pulp and paper industry in which a fairly steady flow of technological advancements have the effect of increasing supply as demand rises. On the whole, the evidence Zaremba has brought together seems to indicate growing consumption of southern pine roundwood. Pulp products will undoubtedly comprise an increasing proportion of the volume of southern pine utilized. Within the lumber category, structural and similar applications may assume increasing significance relative to finish materials. In early projections of demand for timber products, greatest emphasis was placed upon population as the principal determinant of demand. Such estimates tended to be in error, generally on the conservative side, largely because forecasts of population growth were low and the positive effects of other factors were disregarded. On the basis of a rather limited