Report: Demand for legal weed in California around $1.2 Trillion
SF Weekly – It’s not just cops and weedheads who are eagerly watching Colorado’s experiment with marijuana legalization. Bankers and businesses also have a very literal stake in the legal cannabis game. What happens in Colorado is likely a bellwether for what will happen elsewhere in the country once marijuana is made legal.
Here’s an example: Based on what we’re seeing in Colorado, demand for legal, recreational marijuana in California could exceed 2.1 million pounds. If a pound of weed fetches about $1,000, that’s $2.1 trillion worth of marijuana at the retail level.
According to the the state agency in charge of legal weed in Colorado, annual demand there is 130 metric tons. If Colorado’s numbers are scaled to fit California’s population and tourists, we’re talking trillions. In the Colorado study, which was prepared for the Department of Revenue, analyst pegged the annual demand for legal weed at about 121.4 metric tons. Coupled with the nine metric tons consumed by tourists, that’s 130 metric tons — or 286,000 pounds.
And Colorado is a small state, with about eight million people. There are more people in the Bay Area than in all of Colorado and California has about 7.5 times as many people as Colorado, at 38 million — and counting.
I’ll say first and foremost, I’m not really a weed guy.
But all things considered holy moly that is a ton of demand. I mean I know California is the biggest state by population and everyone here blazes up but $1.3 Trillion with a capital T is a ton TON of green.
We’ve got hippies, bangers, high schoolers, college kids, hipsters, sick patients and just people who love to blaze when they’re drunk. Hell, I bet that number goes even higher if in fact it’s legal because you gotta factor in the whole “oh it’s legal now? Sure I’ll have some” effect that’s going to spread to the soccer mom’s and people that used to blaze up in college that have kids now. Whole families of people who just blaze up after dinner before watching Netflix and you wanna talk about tourists? How many kids are gonna go to California for weed alone? Hell we’ve got the entire population of Wyoming here arriving everyday to visit the Golden Gate bridge and Disneyland, that’s another bunch of people all going to pick up some sweet stanky stanky while they’re here as well.
So when you think about it, what’s really stopping it from hitting the store shelves at your liquor store or even Target? The DEA? Prudes? I’m not really sure. You’d be cutting drug related crime and boosting the tax recap from all the money spent on it, so what’s the hold up? I’m really at a loss as to why. Figure it out, California, because our schools suck and we’re sick of all the other taxes.