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Underwater Logging
New technology has created a new and large source of timber. Underwater logging has been around for many years, but has been slow due to difficult harvesting techniques. Technologies such as the Sawfish submarine are making the potential of underwater logging viable.
There are about 45,000 dams around the world, half of them contain harvestable timber. The valleys were flooded with standing trees. 
These watery woods have been preserved by the cold water and protected from rot and insect infestation. The resulting high-quality timber is highly sought after, especially by craftspeople.
Harvesting the underwater timber is taking wood from a dead forest and improving the underwater ecosystem and returning it to a more natural state. Advocates of responsible logging seem to see the underwater version as a way to tap into a source of timber without the harmful side effects --such as road building-- that accompany land-based operations. Some also point out that very little life thrives in the deep cold water.
A company in British Columbia called Aquatic Cellulose International has estimated that there are nearly one million acres of standing timber in reservoirs in B.C. alone. By reclaiming this one lost resource, B.C. could supply timber globally for 30 years. Other estimates put the worldwide estimate at 200 million trees.
Source: Timber Industry Eyes Logs Underwater