I disagree, wood pellets are more expensive than oil for energy, especially if only counting the production cost of oil w/o the tax. So even the first time an old forest is cut, when the land changes, it already displaces oil use. At greater expense even, so demand would be reduce the amount energy produced further.
Furthermore Europe can also choose to replant non-forest land or replant permanently afterwards.
Quitting implies there is a problem, the authors even state so. But is it really¹? I'm quite sure "Over 90% of college students quit college within a decade". They graduate.
Should science grow exponentially? Is there no value in a PhD graduate that isn't a researcher? Get everyone a PhD and chain them to a desk for research!
(1) Except for gender (and others not in scope) where past discrimination is still felt.
Every tenured professor is expected to have at very least one PhD student. A PhD takes on average less than 8 years and a tenure more than 20.
Though I think a more reasonable replacement rate is 10+ PhD graduates per professor. I do not think this problematic somehow, unlike what overproduction implies.