No, the problem was the logging industry got greedy.  A few million dollars wasn't enough.  They wanted hundreds of millions of dollars and they took it.  Now we only have about 5% of old-growth/native forest left in the Pacific Northwest. The forests have been severely overcut and now much has been destroyed and turned into tree farms.
  We need to do everything in our power to make sure the 5% or less remains intact and try to restore more.  There is enough for everyone's need, but not for everyone's greed.  Nature knows  balance.  We should follow nature's lead.