Plummeting Marijuana Prices Create A Panic In California

Cryptogon
May. 27, 2010

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Understand the purpose of the drug war with just one story. Hint: Law enforcement is used to keep supplies down and prices high.

So what changed?

California is broke and the state government wants a cut of the action.

Via: NPR:

For decades, illegal marijuana cultivation has been an economic lifeblood for three counties in northern California known as the Emerald Triangle.

The war on drugs and frequent raids by federal drug agents have helped support the local economy -- keeping prices for street sales of pot high and keeping profits rich.

But high times are changing. Legal pot, under the guise of the California's medical marijuana laws, has spurred a rush of new competition. As a result, the wholesale price of pot grown in these areas is plunging.