The pine beetles "produced" CO2 almost at the same level of the entire province in 2007!

This is very interesting and scary!
In 2007, BC governement reported a total of 52.1 megatonnes of CO2e from our forest emitted in BC. Almost 80% of the amount officially reported by the government, at 67.3 megatonnes.

http://www.env.gov.bc.ca/epd/climate/ghg-inventory/pdf/pir-2007-full-report.pdf

Can we call this a dangerous feedback loop?

The Tyee article:
Gov't Buries Fact that Logging Blows Our Emissions Target
http://thetyee.ca/Opinion/2009/09/23/LoggingCO2/?utm_source=mondayheadlines&utm_medium=email&utm_campaign=280909

I don't understand why the author says that logging is responsible for this issue. By looking at figure 22 (page 57) of the 2007 government report, it is quite clear that logging emissions are quite stable. The real culprit is the pine beetles who makes our forests decay and release GHG instead of sequestration the carbon.

There are some questions raised about the methodology of the calculations as well. The report added the following note:
"All carbon stored in harvested wood products is assumed under current international accounting protocols to be converted to CO2 and emitted immediately to the atmosphere. This is an overestimation of emissions since carbon embedded in wood products is sequestered for an extended period of time prior to the eventual decay of wood products and release of emissions. These protocols may be subject to change in future international negotiations."

Other interesting facts from the chapter 9 and deforestation:
Oil & gas industry creates more deforestation than the forestry industry...

The reports shows many trends from all sectors. A good reading.