I don't know exactly how well I can trust the numbers on the internet, but after a short search it sounds like burning 1 gallon of gasoline produces about 19.4 pounds of Carbon Dioxide, while burning 1 pound of wood produces about 1.5 pounds of carbon dioxide.
Does the latter statistic work in reverse; such that a growing tree will suck about 1.5 pounds of carbon-dioxide out of the air for each pound of hardwood it puts on?
I wonder how many acres of forests we would have to grow (and not burn) to balance the amount of carbon dioxide we produce.
A very rough calculation follows
Worldwide use of oil: 84 million barrels/year *42 gallons/barrel * 20 pounds of CO2 per gallon = 70 billion pounds of CO2
divide by 1.5, absorbed by growing 46 billion pounds of wood.
= 23 million tons of wood grown and not burned.
I'm not sure how that converts into cubic meters... One web-site estimated the worldwide harvest of wood to be around 3.5 billion cubic meters (3/4 of which is used for fuel.)
...or how it would convert into acres, or land-fills. I wonder if we could find use for 23 million tons of hardwood as furniture and houses per year, or if we would bury it. What happens if bugs get into it? Would they convert it right back into CO2?