Pot Prices Could Plummet

Wednesday, Jul 7, 2010  |  Updated 10:30 AM PDT
View Comments (
)
|
Email
|
Print
Making a Case for Medical Marijuana

David Sutherland

Marijuana

advertisement
Photos and Videos

Judge Calls For Legalizing Marijuana

Jim Gray is a Vietnam combat veteran, who spent 25 years on Orange County's 'bench'. He's riled a lot of anti-drug crusaders with his critiques of America's war on narcotics. In his view, it's 'high time' -- so to speak -- for another approach.

New Policy Stirs Up Pot Fight

The state says it's ok. The feds are backing it. So what will the president's announcement on medicinal marijuana mean for the county's fight against it?
More Photos and Videos

Legalizing the recreational use of marijuana in California could drive down prices and undercut the potential tax windfall that supporters have touted, according to a new study.

"Considerable uncertainty" surrounds the state ballot initiative. It would allow adults, 21 and over, to possess an ounce of marijuana and cities and counties to license and tax commercial pot sales, the study published Wednesday by the RAND Drug Policy Research Center said.

The authors predict that retail marijuana prices could drop from $375 an ounce under the state's current medical marijuana law to as low as $38 per ounce, in part because growers and sellers would be taking fewer legal risks.

According to the RAND analysis, consumers would pay more than that -- about $91 an ounce -- once taxes imposed by local governments are figured in.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out