Using the hemp as a renewable fiber source is where there possibly could be a demand but that is to be seen also. The cultivation for human use is not very impactful.
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Using the hemp as a renewable fiber source is where there possibly could be a demand but that is to be seen also. The cultivation for human use is not very impactful.
This will eventually be a global market. Canada is going to generate some generational wealth. Even if prices drop, the government will get their tax revenues no matter what and currently they get zero and spend money fighting it. Seeing it in a farm bill would make me laugh. Just because its funny.
If every adult American smoked one joint a day, 10,000 acres of irrigated cropland yielding 5 tons an acre would be more than enough supply the nation for the year.
About 12% of adult Americans use marijuana. You're now down to 1,200 acres. Probably half of users smoke less than once a month, 25% once a week, 25% daily. You're now down to less than 400 acres, or about three pivots, of production. Average ND Joe Farmer could do this himself.
Some ding dongs estimated $132 billion in tax revenue and more than a million new jobs. Horsesh#t. One farmer and a single processor could do this themselves. Much of the tax revenue is estimated to come from new wages and new business, as well as sales tax. It isn't going to cost a farmer $1,000 per acres to grow this stuff, but let's price is at $200/ton. Put it into little packets on a production line for 5 cents an eighth. So the cost of production is almost nil. People will pay a lot more, but only if they have to. Once the novelty wears off and competition sets it, the retail price is going to collapse.
The US might consume four million pounds of the stuff, but it is going to be like produce in the grocery store in my lifetime. (This is all that it is now, but there are for the most part a bunch of novices involved.)
Again, it's not a big deal. People don't have a clue how productive commercial agriculture is and they don't have a basic command of economics as economic returns under legalization will be driven to zero.
I really wish more would take that route as I hate the smell. With that said, I'm glad taxpayer money isn't being wasted on imprisoning individuals involved with the stuff. However, Colorado needs to get its act together in regards to making the funds more available to schools like they promised when the bill was on the ballot a years ago.
May be misinformed but isn’t the experiment in Colorado showing pretty poor results?
A weed smoking libertarian friend who is big on states rights told me it is failing because all states don’t have marijuana legal so all the low productive weed smokers moved there.
I suggested to them that is the reason for states rights. Allow a state to try it and if they fail other states don’t follow suit.
I don’t really care but seems to me the legalize weed crowd isn’t sticking to any real philosophy on the issue other than “legalize the thing I like.”
One of my favorite Ron Paul moments regarding legalization.
https://youtu.be/GFcuAPjBpiA
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I bet it will be more per ounce than corn or wheat and it will be taxed like a motherfucker. Beer prices sure haven't dropped over the years. I dont think I can name a single item at the grocery store that's gone down in price over the last decade.
There's already a shit load of illegal weed on the market and more supply than ever, yet prices aren't dropping. If it's legal, you will see less illegal supply. It would be like selling moonshine when you can go to the liquor store.
But If the price of weed drops, that's a good thing. Even if its cut in half, that's still $200 per ounce