Sunday 22 May 2016

Marijuana gold rush gets a boost as US and Canada legalise it and musicians invest in pot companies

By Palash Krishna Mehrotra

In his novel Alcohol: A History, author Rod Phillips makes the observation that some societies in the developed world have entered ‘post-alcohol’ phases. 

The highest alcohol consumption rates, in a number of western countries today, are generally in the older age groups.

Younger people also tend to be more respectful of laws regarding drinking and driving.

The widespread use of marijuana is evidenced in the growing trend to legalise or decriminalise cannabis. (Picture for representation only)
The widespread use of marijuana is evidenced in the growing trend to legalise or decriminalise cannabis. (Picture for representation only)

The scenario Phillips outlines is quite alarming for the liquor industry: ‘The overall result is that, unless younger generations start drinking substantially more alcohol as they get older, per capita consumption can be expected to decline even more once the higher-consuming generations die off.’

 If alcohol is no longer the recreational drug of choice, then what is the preferred alternative?

Professor Phillips writes: ‘It is possible that younger generations have adopted means other than alcohol to achieve the states that alcohol provides. Drugs of many kinds, especially marijuana, are widely popular.’

Trend 
The widespread use of marijuana is evidenced in the growing trend, especially in North America, to legalise or decriminalise cannabis use.

In the United States, Alaska, Colarado, Oregon and Washington have legalised marijuana for recreational purposes. 
California, Nevada and Massachusetts are expected to do so by November. 

According to a recent report on Bloomberg, at least ‘a dozen states are considering pot-related measures this fall, meaning marijuana could soon be legal in some form in most US states.’

Canada is going a step further. Justin Trudeau had pressed for legalisation in his election campaign. 

Now that he’s PM, it looks like he’s going through with it.

The Canadian government is all set to introduce legislation next year that would make the sale of marijuana legal across the nation. 

If enacted, this would be a hugely significant move, making Canada the largest Western country to allow recreational consumption.

Canada’s approach to it will be the same as it is to alcohol. 

The state will control who it is sold to, how it is sold and when it is sold.

The legalisation of pot is throwing up new challenges for the lawmakers. The legislators are now wondering how to create laws on driving while under the influence.

With drinking it is easier to determine these limits - the driver’s blood alcohol shouldn’t be more than 0.08 per cent.

Measuring the effects of marijuana is trickier; blood tests are an unreliable indicator because the body absorbs alcohol and marijuana in different ways.

Most American states that have laws regarding this -to do so by measuring THC levels. 

Ingredient 
THC is the active ingredient in marijuana.

What is the exact quantifiable amount that allows lawmakers to predict that the person’s driving abilities are impaired? 

At the moment, there is no scientific agreement on how to measure the concentration of the drug.

The use of medical marijuana is already legal in Canada; it will be so in Germany by 2017.

In America, 1.5 million customers have received medical marijuana licenses from doctors, that enables them to use it for medicinal purposes. 

Like with any other industry, once it’s legal, money pours in.

Mainstream venture capital firms are now game for business; venture capital investments more than doubled in 2015, up from $97million in 2014 to $215 million. 

Some American towns are witnessing a marijuana boom, a bit like the gold rush.

Desert Hot Springs in California is one such town, which has been inundated with marijuana growers and developers.

The LA Times tells the story of Carlos Bravo, the owner of a tow company, who was offered half a million dollars for five acres of undeveloped desert land by a real estate agent, five times of what he had paid six months earlier.

Invest 
Musicians, cutting across genres, have been quick to invest in the companies selling marijuana for recreational use.

Privateer Holdings has tied up with Bob Marley’s estate to create a mainstream cannabis brand called ‘Marley Natural’.

Rapper Snoop Dogg has already launched a premium brand, the Rolex of pot, called ‘Leafs by Snoop’. 

Snoop has linked up with a company called LivWell, which has subsequently come under fire for using pesticides. 

Country legend Willie Nelson’s Willie’s Reserve is expected to be on the market this year. 

The farmers will have to meet carbon standards. It’s a vertically integrated model, benefiting everyone from the farmers who grow it to the stores it’s sold in. 

There is no talk of legalising cannabis in India. Possession and sale of ganja and hashish is a criminal offence. 

As a society, we are good at passing the buck. 

The ‘evil’ of homosexuality is a western import. The problem of heroin addiction in MP and Punjab is a Pakistani conspiracy. 

But what about ganja? Its scientific name is Cannabis Indica. 

No Mahashivratri and Holi celebrations are complete without its use.

The plant grows wild across large swathes of India.

As states try and outdo each other in banning alcohol, we have already been forced into a ‘post-alcohol’ stage.

What next? Maybe it’s time we reclaimed what’s ours. It’s high time we did some swadeshi soul-searching. And got high. 

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