How fast is the amazon tropical rainforest being cut down?

One and one-half acres of rain forest are lost every second with tragic consequences for both developing and industrial countries. Rain forests are being destroyed because the value of rain forest land is perceived as only the value of its timber by shortsighted governments, multinational logging companies, and land owners. Nearly half of the world's species of plants, animals and microorganisms will be destroyed or severely threatened over the next quarter century due to rain forest deforestation.