Many people across the nation are eagerly awaiting the legalization on a federal level for marijuana. With the uncertainty of Biden’s health, the current state of the economy, some like myself would love to see him push an executive order.
Some states would benefit from cannabis. No matter how you cut it, the days for oil are numbered. Oil and gas used to be sure profits, but with the new dangers stemming from global warming, those are no longer sure revenues for profit anymore.
As the nation advances and grows more modernized, we will see a shift in attitude regarding marijuana. It is already happening across America. When you see southern states warming to the production of cannabis for medical purposes, you know it is only a matter of time before it fully expands. There are just too many benefits of medical marijuana for states to not look at the positives. Even if states do not want to go forward with recreational activity, they will give it a second look due to the push to step away from opioids.
With that said, there are still obstacles. Getting a license in nearly any state to produce and sell marijuana is costly. Here in Texas, there is a set amount of producers that are allowed to farm cannabis oil. That cap presents a real problem for people who wish to enter into the business. Not only do they have to wait in line so to say and maybe hear a no, but they have to have a lot of money for the license fee. We only allow CBD oils. CBD is made from hemp, which in return, requires a vast amount of land.
So needless to say, the average person will not be getting rich anytime soon in this state as growing cannabis remains a thorn in the side. However, investing in cannabis is another story. Anyone can research companies and invest their money in the hope of returns. A few weeks ago, there was a movement in the cannabis stocks out of Canada.
I would look closer to home when thinking about investing in cannabis due to the companies that will see revenue with their local providers. We are not looking at an “if” situation; I believe we are looking at a “when” situation. There are just too many new ways of using products made from cannabis like CBD to say never. I think we will see something similar to what we see with alcohol. You have your dry counties, your wet counties, and your mixed counties.