Prices down to $5 a gram...retail outlets are being priced out of business....High times for the consumer though:
Oregon, awash in marijuana, takes steps to curb production
"Oregon is awash in pot, glutted with so much legal weed that if growing were to stop today, it could take more than six years by one estimate to smoke or eat it all.
Now, the state is looking to curb production.
Five years after voters legalized recreational marijuana, lawmakers are moving to give the Oregon Liquor Control Commission more leeway to deny new pot-growing licenses based on supply and demand.
The bill, which passed the Senate and is now before the House, is aimed not just at reducing the huge surplus but at preventing diversion of unsold legal marijuana into the black market and forestalling a crackdown by federal prosecutors.
"The harsh reality is we have too much product on the market," said Democratic Gov. Kate Brown, who intends to sign the bill if it wins final passage as expected.
Supply is running twice as high as demand, meaning that the surplus from last year's harvest alone could amount to roughly 2.3 million pounds of marijuana, by the liquor commission's figures. That's the equivalent of over 1 billion joints."
Oregon, awash in marijuana, takes steps to curb production
"Oregon is awash in pot, glutted with so much legal weed that if growing were to stop today, it could take more than six years by one estimate to smoke or eat it all.
Now, the state is looking to curb production.
Five years after voters legalized recreational marijuana, lawmakers are moving to give the Oregon Liquor Control Commission more leeway to deny new pot-growing licenses based on supply and demand.
The bill, which passed the Senate and is now before the House, is aimed not just at reducing the huge surplus but at preventing diversion of unsold legal marijuana into the black market and forestalling a crackdown by federal prosecutors.
"The harsh reality is we have too much product on the market," said Democratic Gov. Kate Brown, who intends to sign the bill if it wins final passage as expected.
Supply is running twice as high as demand, meaning that the surplus from last year's harvest alone could amount to roughly 2.3 million pounds of marijuana, by the liquor commission's figures. That's the equivalent of over 1 billion joints."
