If you are anything like me, you are like a hawk these days when it comes to watching states legalizing marijuana. It pains me to no ends to see so many states around us legalizing marijuana and states like mine, which is Texas, sitting on the side of the fence.
We have so much land here in this state, to not legalize marijuana is equal to hard stupidity. I mean, hard! President Biden could help with this problem, but he is trying to act as if marijuana doesn’t exist. It does, and guess what!! We want in! There are new millionaires on the horizon, and these people will come into their wealth by the weed industry.
The situation is taking a little too long. I have had to rethink my marijuana stocks and re-evaluate the companies that are doing something right now. Right now, I am looking at a company that specializes in hemp products. It is called HIPH. It looks like something I could have some fun with when it comes to investing.
I am not giving you advice on it because I am not a financial professional. If you want to know anything about the stock, you will have to research it and decide if it is something you would like in your portfolio.
As for everything else, I am hanging in there. This has been a hard week. Our cat got out during a storm, and we found him dead on the side of the road. It sucks because he was the best cat ever. Our dryer air duct came open, and he escaped. I don’t think I have ever had an animal get killed, so this was difficult for us.
In times of crisis, new ideas spring forward. With President Biden and the Democrats controlling both the Senate and House, this is the perfect time to push a new marijuana law on the table. People in states that still view marijuana as illegal should be writing their Congressmen and asking them to revamp the laws.
COVID-19 has wrecked the economy in numerous states, but we have a potential gold mine ready for the taking. It doesn’t require drilling or luck; it requires land. I am talking about the task of growing marijuana. America is currently producing upwards of 12.7 billion dollars in revenue on cannabis.
States like California and Colorado are racking up the dough with billions in revenue, while States like Texas are sitting by the way-side watching money slip away. The fear of legalizing marijuana is a fear that will be costly in the future.
It is kind of funny when you think about it! Texas has this uncanny trust in residents to put on a mask and protect each other from COVID, but they do not trust them enough to legalize marijuana. Our medical marijuana program is a joke. We currently have eight illnesses that qualify for medical marijuana. Two new illnesses are up for debate at the end of this year PTSD and chronic pain. https://www.texastribune.org/2021/01/04/texas-medical-marijuana-2021/
“Industry experts say Texas’ narrowly designed program is also hindering a market that could help drive Texas’ economic recovery from the coronavirus pandemic.”
Texas is not alone in its hesitance to legalize the selling and growing of marijuana. There are only 13 states that allow recreational use of marijuana. We have 21 states that fall under some branch of medical usage, and four more states are looking at expanding their laws this year.
However, there are many states in America right now that are under some form of chaos. The chaos is due to the economic downfall created by COVID-19. One of the ongoing problems with states that have legalized marijuana is the cost of getting a license. Licenses in most states are costly. The cheapest state to buy a license, and sell marijuana, can be found in Oregon. They seem to have a very straight to the point license application.
If Biden pushes an executive order on legalizing marijuana at the federal level, we will see more states warm to the idea of cultivation. If states like California can make nearly 4 billion in revenue, think about what Texas would be able to accomplish! For landowners like many of us, we are just waiting and hoping for the green light. If we ever get the green light, we will need to address the fee for licensing. The way it stands, only rich people or people with enough wealth can afford the start-up for marijuana cultivation. The fee is outrageous. We won’t even go into how Texas has something like a lottery in terms of determining which companies, get to grow cannabis. It is a way of preventing wealth from spreading. Yet, everyone is so worried about economic growth, right? It is time to get down to business, cannabis makes good business sense.