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Environmental Benefits and Consequences of Genetic Engineering Environmental benefits and consequences includes those related to industrial companies, agriculture and animals. One of the industries that have greatly impacted genetic engineering is the timber industry. The timber industry has always been a key to the health of the economy in North America, but many conservationists have been concerned about clear-cutting practices and the huge reduction in forests the past century. Lumber companies have sometimes exhausted their own natural resource. The solution of genetically modified (GM) trees looks so promising to several large paper companies that they have joined together in an enterprise called the ArboGen, a $60-million venture