To go by the Domesday Book, the record of taxable lands produced for William the Conqueror in 1086, the manor of Drax, in the West Riding of Yorkshire, was not much of a place: six villagers, a priest and a value to its lord of a single pound. But it did have five leagues of woodland. Today Drax is home to one of the most impressive pieces of engineering in Britain, a power station with a value to its owners of ￡2.5 billion. But it does not have much woodland. And, given the way Europe's renewable-energy subsidies work, the appetites of that facility, and others around Europe, may mean that wood is in short supply in many places before long.
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