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Canadians have their sights set on United States cannabis industry
14 January 2018, 03:01 | Christie Tate
Jeff Sessions is tainted in the eyes of Donald Trump
Where pot entrepreneurs go when the banks just say no. NORML deputy director Paul Armentano recently jointed PanAm Post English editor David Unsworth to discuss Attorney General Jeff Sessions'recent decision to use federal resources to target states that have legalizedmarijuana.
California became the latest - and largest - state to legalize recreational marijuana on January 1.is set to become the first state to legalize the drug without a voter ballot. A landlord renting to a marijuana-related business might well have his rental property seized by the feds, should a federal attorney emboldened by Sessions' renewed anti-marijuana crusade be inclined to press the issue.
It is the position of the Hemp Industries Association that industrial hemp remains protected under exemptions to the Controlled Substances Act, per §7606 of the Agricultural Act of 2014 (the "Farm Bill"), which permits the cultivation of industrial hemp by institutions of higher education and under state agricultural pilot programs, as defined for purposes of research.
Legalizing marijuana at the federal level could earn the government up to $132 billion in tax revenue and create more than a million new jobs by 2025, cannabis industry analysts predict.
In 2013 President Obama's Justice Department issued the Cole Memorandum essentially instructing federal prosecutors to lay off prosecuting marijuana offenses in most case. Sessions used to be a champion of states' rights. "Marijuana retailers reach a focused pro-Cannabis market where hemp clothing, food, paper, plastics and hemp-derived CBD product sales are known to perform well". It also took many by surprise at the Department of Homeland Security by barring people from some predominantly Muslim countries from entering the United States. "While we have made progress in combating the heroin and opioid abuse crisis and drastically expanded Pennsylvania's response, we are still losing far too many Pennsylvanians", Wolf said in a statement.
Senators in both parties spoke out last week against Sessions' action.
"It's certainly a concern", Johnson said.
Trump fans who use medical marijuana are also concerned they could lose access to treatment.
In Colorado, CEO Andy Williams said the announcement that he's open to prosecution could turn years of work and millions of dollars of investment in his store Medicine Man Denver into a criminal enterprise. If Sessions's new policy costs the party votes, Trump will have one more reason to scapegoat him. "I don't think it's a smart move".
The share price of Medicine Man dropped almost 40 percent Thursday, from $3.18 to $2.11. "It is a repeal of the federal prohibition, it is a removal of any federal regulatory scheme except that it would retain a misdemeanor status for transport and sale from a state where legal to a state where not legal", Garrett said Thursday.
In an email to the Signal Tribune, Signal Hill City Manager Charlie Honeycutt acknowledged that since those businesses have been prohibited, the federal announcement surrounding a change in policy on marijuana wouldn't affect the city.
But Anderson said challenges are nothing new in the industry. Keeping it listed alongside the highly-addictive and far more unsafe heroin and cocaine makes no sense given what's been seen in Alaska and elsewhere it has been legalized.
"I highly doubt it", Aula said in a phone interview. Congress: Seize the moment and legalize marijuana.
While recreational pot markets are bracing for a potential crackdown stemming from orders by Attorney General Jeff Sessions, former law enforcement officials say another group is likely celebrating: Mexican drug cartels.
Cannabinniers, a San Diego maker of marijuana-infused food and drink also expects slower investor interest in the short term.
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