Latest news on drug policy issues in the international media

 

  • Stoners cheered when Canada legalised cannabis. How did it go so wrong?

    Growers have gone bust, and the black market is still thriving
    The Observer (UK)
    Sunday, April 5, 2020

    canada cannabis stock broker2Two years on, the Canadian cannabis legalisation experiment hasn’t quite turned out as we reformers had hoped. The black market is still vibrant while cannabis stocks have crashed, medical patients say they can’t get hold of essential medicines, and thousands of jobs have been lost. So what went wrong – and what went right? Alastair Moore, co-founder of Hanway Associates, a London-based cannabis consultancy, says the Canadian industry has been driven by vulture capitalism and wishful thinking. “A mix of greed and naivety led this industry to great heights – and has left it on its knees. While some made lots of money, others lost their investments and now many others have lost their jobs.”

  • Amid the crisis, marijuana legalization in New York will have to wait again

    Marijuana legalization is an incredibly contentious and complicated issue for legislators even under normal circumstances
    Filter (US)
    Friday, April 3, 2020

    us ny liberty statueDuring New York’s worst health crisis in a lifetime, a deadline came up to put forth a provision to legalize adult-use marijuana. With other concerns to address, lawmakers are passing on legalization. Advocates are understanding of this. “While legalizing cannabis is necessary to reduce the decades of unjust, racist targeting of communities of color in New York, our state faces a public health crisis right now and efforts to contain COVID-19 demand legislators’ full attention,” said Kassandra Frederique of the Drug Policy Alliance. The new year started with high hopes that the state would finally pass a legalization bill. Governor Andrew Cuomo (D) placed it among his top priorities in his State of the State address in January, after convening a meeting with other Northeast governors.

  • Missed earnings, misdirection put Canadian cannabis executives in hot seat

    Some of the founders of today’s large cannabis companies were good at raising money but not good at making money
    Marijuana Business Daily (US)
    Wednesday, April 1, 2020

    The exodus of cannabis executives in Canada is in full swing after their companies raked up collective net losses exceeding CA$6 billion ($4.4 billion) in 2019, the first calendar year recreational products were allowed to be sold. Most of Canada’s top cannabis producers have replaced their chief executives or chief financial officers after failing to meet customer and investor expectations. Experts say the CEOs spent too much money on greenhouses, were too focused on investors and did not pay enough attention to customers, real markets or quality control. Many simply lacked the professional toolkit necessary to steer a cannabis company and ended up chasing too many opportunities in far-flung areas of the world where actual marijuana markets remain years away.

  • Cannabis scientists are chasing the perfect high

    Chemists at some of the biggest legal-weed companies are after an elusive prize: a predictable, reliable product
    The New York Times Magazine (US)
    Wednesday, April 1, 2020

    us buying marijuana dispensaryThe cannabis business has arrived at a critical moment. Now that pot has become something like a regular consumer product, customers are increasingly seeking the same “proven consistency” they expect from potato chips and soap. The financial stakes are clear: Despite lingering prohibitions in 17 states, legal cannabis is already an $8 billion industry in the United States. Domestic sales of alcohol, humankind’s other favorite intoxicant, topped $200 billion last year. But to make cannabis as popular as booze requires solving that original problem: It’s hard to imagine millions of people becoming new recreational users without being able to promise them that the product they’re spending money on will give them the effect they want.

  • Dutch marijuana back on sale, but don't forget to wash your hands

    Dutch authorities wanted to avoid driving the sales underground to an unregulated black market
    Reuters (UK)
    Tuesday, March 31, 2020

    coffeeshop menuWhile most of the Netherlands struggles through the coronavirus lockdown, marijuana smokers received the welcome news that “coffee shops” selling the drug have reopened for takeaway orders. All businesses selling cannabis and hashish were ordered to shut, along with sex clubs and saunas, when the Dutch government imposed on March 15 measures to curb the COVID-19 epidemic. A limited reopening has been allowed to avoid black market drug deals and ensure supplies of medicinal cannabis. With coronavirus regulations prohibiting gatherings of people, however, buyers are no longer permitted to stay for a smoke.

  • Defaulted Lebanon hopes to pay off debts with cannabis

    McKinsey suggested that legalizing the cultivation of cannabis would bring in up to $1 billion per year in revenue for the government
    Al-Monitor (Middle East)
    Monday, March 30, 2020

    The Lebanese government is looking to cannabis cultivation for medicinal and industrial purposes to improve the country's economic situation. Lebanon is the third most indebted country in the world, with a debt-to-GDP ratio of 170%. Parliamentary committees passed a draft law on Feb. 26, legalizing cannabis cultivation for medical and industrial use. The draft law will be transferred to the parliament for approval. The Lebanese Parliament closed due to the coronavirus outbreak, but, the law is expected to pass after it reconvenes. The type of plant that Lebanon seeks to cultivate is specific to medical industries. The Lebanese state does not accept the use of hashish as a resource to support the economy.

Page 1 of 385