Plummeting Marijuana Prices Create A Panic In California

Cryptogon
May. 27, 2010

Popular
Claim Jewish Student Was 'Stabbed In The Eye' by Pro-Palestine Protester Draws Mockery After Video Released
Mistrial Declared in Case of Arizona Rancher Accused of Killing Migrant Trespasser
Sen. Hawley: Send National Guard to Crush Pro-Palestine Protests Like 'Eisenhower Sent the 101st to Little Rock'
Senate Passes $95B Giveaway to Israel, Ukraine, and Taiwan, Combined With TikTok Ban
AP: 'Israeli Strikes on Gaza City of Rafah Kill 22, Mostly Children, as U.S. Advances Aid Package'

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.