In our recent commentary “Wildfire: More Than a Song” https://www.cumber.com/cumberland-advisors-market-commentary-wildfire-more-than-a-song/, we stated that our nation’s federally owned forests “are housed in the Department of the Interior.”
That is true up to a point: The Bureau of Land Management (BLM), which is an arm of the Department of the Interior, does manage 246 million acres of public lands; but only a small portion of that land is forested (much of it is rangeland or desert). Forested public land is mostly under the purview of the US Forest Service, which is part of the Department of Agriculture. The Forest Service manages 193 million acres. In addition, the Fish and Wildlife Service (FWS), in the Department of the Interior, manages 89 million acres as part of the National Wildlife Refuge System; and the National Park Service (NPS), also in the Department of the Interior, manages 80 million acres in the National Park System.
We thank reader David Kruschwitz for calling this omission to our attention.
Readers that are interested in more detail on federal land management may wish to peruse the following: https://fas.org/sgp/crs/misc/IF10585.pdf
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Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.