Marijuana Stock News Sometimes I feel like a broken record repeating the same thing every week, but I feel it can’t be said enough: If you’re a marijuana stock enthusiast, you need to be up to date on marijuana news. The drug is working its way—albeit slowly—towards mass acceptance in the U.S., both medically and for recreation. But that process is one that will ebb and flow, and following the news is a great way to try and predict the future of the pot industry. In this case, I’ve rounded up three bits of news that all may have a profound effect on the legalization process.
The good news in pot stock is that illegal weed is bad. Very bad. Besides the obvious concerns about illegal weed—including funding gangs and the product being less safe overall due to a lack of oversight and regulatory organizations in the criminal world—there’s a new reason to hate on illegal weed production: pollution.
A recent story by Reuters highlighted the environmental toll that illegal pot is taking on the environment. One expert claims that the amount of pesticide and fertilizer released in California, if concentrated into a single stream, would exceed the amount of chemicals spilled in Elk River in West Virginia during a 2014 crisis, which left 300,000 residents without access to potable water. (Source: “Toxic waste from U.S. pot farms alarms experts,” Reuters, August 6, 2017.)
U.S. Attorney General Jeff Sessions seems hellbent on using federal power to crack down on states that have legalized pot. The latest marijuana stock news revolves around a letter Sessions sent to a number of top Washington officials, criticizing the state’s legalization of marijuana. (Source: “U.S. Attorney General Sessions criticizes Washington state’s legal marijuana system,” The Seattle Times, August 6, 2017.)
The thing about Sessions is that his own task force, which he assigned to access the damage of legalized pot, came back and pretty much said that the Obama administration played it right. Which is to say, back off from the states and let the people decide. Of course, this was not the news that Sessions wanted or needed, so his attack on legal weed in Washington is all the more weak.
Not to mention that Washington officials claim that Sessions is using out-of-date information from 2016 that does not reflect the reality today.
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