Odd Lots What 300 Years of Firewood Prices Say About the Economy
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Jul 25, 2025 
Nicholas Muller, a Carnegie Mellon economist and author of the paper on firewood in America's economy, joins to delve into the overlooked significance of firewood pricing. He discusses how firewood served as a dominant energy source from the 1700s until industrialization. The conversation reveals how 19th-century railroads boosted demand and how historical pricing trends relate to today’s economic indicators. Muller also highlights modern shifts back to wood as a renewable energy source, emphasizing its relevance in contemporary economic discussions.
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Demand and Scarcity Drive Prices
- Firewood price increases were due mostly to rising demand and scarcity near cities, increasing transportation costs.
- Railroads both reduced transport costs and consumed large amounts of wood themselves, complicating supply dynamics.
Transportation Tech Impact on Firewood
- Firewood transportation technology evolved from animal carts and canals to railroads, lowering costs but increasing demand from trains burning wood.
- This interplay created ambiguous effects on overall wood supply and price.
Wood Quality Affects Prices
- Price differences exist based on firewood species; hardwoods like oak and hickory are priced higher due to greater energy content.
- Seasoning affects price seasonally, with summer wood selling at a discount likely due to seasoning/storage factors.
