TNMNews Live Broadcast: September 7th, 2018 Marijuana News Week in Review
Pleased Friday everyone, this is Todd Denkin with the National Cannabis News pertaining to you on September 9th, 2018. I hope the weekend is a great deal of enjoyable for all of you. We are here to talk about the nation’s cannabis news and spread awareness. So let’s get going! Today we are going to yap of business however first let’s upgrade you what has been happening with a brand-new bill in the Senate, a few of the legal issues for the state of Oregon and hemp.
Veterans Medical Cannabis Safe Harbor Act
Senator Costs Nelson, a democrat from Florida, and Senator Brian Schatz, a democrat from Hawaii, presented the Veterans Medical Cannabis Safe Harbor Act to the Senate on Wednesday. Needs to the costs pass it would allow our military veterans using the VA healthcare system to use, have and transport medical marijuana in accordance with the laws of states that have a legalized medical cannabis program. The expense would likewise instill $15 million dollars into a study that would concentrate on the impacts of medical marijuana on veterans in pain, the medical cannabis treatment programs in each state, veterans access to state legal medical cannabis and whether there is a decrease in opioid use by veterans in those states. The VA is routinely under fire for its casual attitude to medical marijuana while our military veterans are suffering and represent 14% of the overall suicide rate in the United States despite just representing a small percentage of the population. Veterans frequently offer statements of the benefits they are experiencing from medical cannabis to deal with chronic pain and PTSD.
Relying on some legal news, Oregon has been under a lot of analysis recently. In 1998 Oregon passed its medical cannabis bill which allowed medical cannabis patients to acquire up to 24 ounces of marijuana at a time and grow up to 6 fully grown plants. Then in 2015 the state legalized adult-use cannabis and authorized numerous dispensary licenses which all resulted in an enormous surplus or cannabis in Oregon. The substantial supply and stiff competition has driven the price of weed way to national lows. In some shops in Oregon an entire ounce of cannabis may just cost $50. (Anyone feel like moving?) However, Oregon has actually been reaching records in marijuana sales this year as well, which simply does not add up. The numbers were a red flag for people like Oregon U.S. Attorney Billy Williams. Taking a better look at the books, Williams identified that more than a third of the marijuana sales for 8 ounces or more was taking place in among the least populated counties in Oregon, Multnomah County. Additional research showed that the sales were separated to simply 2 specific stores in the county. The investigation culminated in the arrest of 6 individuals recently, the seizure of over 2 million dollars and over 11,000 cannabis plants plus a luxury yacht. Supposedly the 6 detained individuals had strategies to transfer the marijuana to Florida, Virginia and Texas to offer on the unlawful market. And now, the worst part of it all is that Oregon medical marijuana patients can just buy up to one ounce of marijuana at a time. What a pity.
https://thenationalmarijuananews.com/the-us-turns-its-focus-on-the-illegal-marijuana-market-in-oregon/ Hemp more successful than tobacco? Relying on some more favorable news, the 2018 Farm Costs, which
includes the Hemp Farming Act of 2018, is set
to be voted upon later on this year. The republican Kentucky Senator Mitch McConnell has actually played a big function in getting the Hemp Farming Act this far and if it passes it would legalize hemp on the federal level. The current Farm Expense expires on September 30th. However, in 2014 the Omnibus Farm Bill was enacted permitting farmers to grow commercial hemp as a pilot program in conjunction with state farming departments and universities. Farmers around the country, in specific in Kentucky where they have actually constantly been fans of hemp and it grows effectively, embraced the costs and hemp is being planted in record numbers. 40 states have legislated the production of commercial hemp and inning accordance with Vote Hemp, the top advocacy group for hemp farming, 23,343 acres of hemp were cultivated in 2015, more than twice as much as 2016. For many farmers hemp has actually replaced crops like soy, corn and tobacco. On the federal level, hemp is specified by having no more than.3%THC. Industrial hemp has lots of applications as fuel, fiber and a food source. Numerous experts estimate that hemp will be a much bigger market than the cannabis plant itself. There is nothing like good sound financial thinking, exists? Anheuser-Busch Turning now to more company oriented news, we have actually discussed big alcohol’s interest in the cannabis industry sometimes. The most significant relocation by
alcohol to push its way
into the marijuana market is Constellations Brands huge purchase of Canopy Development Corporation, the largest marijuana company in the world. Constellation now owns 38% of Canopy and has even recently presented a beer flavored gummy to the market, yuk, called Sugarfina Corona Gummies. Molson Coors has likewise been making moves into the cannabis area too, however exactly what about the king of beer, Anheuser-Busch? They are the biggest beer business in the world and yet they have actually stayed pretty peaceful about how the legalization of marijuana has actually impacted their company. In the second quarter BUD lost over 3%which becomes part of a nationwide drop in alcohol sales. They did just recently create a new position at Budweiser though, a Chief Non-Alcoholic Drink Officer. We will have to see if this is a relocation by Anheuser-Busch to enter into the cannabis instilled drink industry. Read more about beer, alcohol and weed in our short article,”Exactly what Is Keeping Anheuser-Busch From Entering the Weed Industry?”on TNMNews.com. https://thenationalmarijuananews.com/what-is-keeping-anheuser-busch-from-entering-the-weed-industry/ Caution by SEC about buying cannabis Our last sector is likewise about business of cannabis and investing. The SEC released a caution today to financiers interested in cannabis stocks. The warning was particularly
about watching out for unlicensed sellers. The heart of the problem is in fact nothing new to the SEC, they are always cautioning investors to do their research prior to buying any equity. The interest towards cannabis stocks however is drawing their attention as numerous financiers can easily get captured up in buzz and worry about losing out. They alert to be wary of any sort of ensured returns, likewise to examine if the SEC has actually ever suspended trading of a cannabis stock which marijuana is still federally prohibited. On Wednesday the SEC likewise stated that its Office of Financier Education and Advocacy”routinely “gets problems about pot-related financial investments. While the cannabis industry is interesting and it’s not too often that we see a brand-new agricultural product go into the marketplace, you need to use sound judgment when purchasing anything. Well, that’s it for today everybody. Again, I hope you have a terrific weekend and remember to checkout TNMNews.com, our Facebook, Twitter and Instagram accounts @NationalMJNews too. I am Todd Denkin, with the National Cannabis News!
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