Here’s my California cannabis update; there’s literally so much going on in CA that it gets its own blog post.
I sailed from Salem City with my washbowl on my knee.
I’m going to California the gold dust for to see.
It rained all night the day I left, the weather it was dry.
The sun so hot I froze to death, oh brothers, don’t you cry!
I’m not even sure where to start with this update – Hazel and I released a podcast episode last week that’s going gangbusters with listeners at the moment, so I thought I’d do a cannabis update post, and most of the updates are in California at the moment.
If you’ve ever read any sort of cannabis update articles, you’re most likely to have run across the ones that claim that banking is impossible, illegal, or otherwise disabled for the state legal cannabis industry. The disabled for the industry part is true, but the illegal part is not so true.
Unfortunately most reporters don’t bother checking out the letter of the law, or guidance in this case, to understand what’s actually written versus what people think is written about it. This podcast episode provides a cannabis update regarding banking and the law.
Wildfires in Northern California Pose Significant Threat to Cannabis Crops
Unless you’ve been living under a rock, you know that more than a dozen wildfires RAGED through parts of northern California over the past week. Aside from the 2800+ structures that have burned, the lives that have been lost, and the incredible situation that the people in the Napa and Sonoma areas have lived through, it appears that the California cannabis growers are taking a major hit as well.
Cannabis farmers can’t get crop insurance; a large number of them were likely marginalized growers who may not have been properly licensed, and millions of dollars in product have literally gone up in flames. How this will affect the state supply is unknown as of yet, although recent reports indicate that the vast majority of the California crop has been making its way across state lines as black market product.
Licensing for rec use is all in a shambles; most cities won’t have rec licenses ready to go by Jan 1
Palm Springs may be the only city that actually has it’s recreational use licenses for cannabis businesses in order and ready to go before the clock ticks down to the new year. San Francisco has already announced they won’t be ready, and the LA City Council is all over the map with crazy ideas like shutting down all the non-dispensary businesses until they get rec use licenses sorted out… which makes no sense for the medical license business owners, especially the ones that aren’t going to switch to rec use (more of those than you think).
Lori Ajax, the “pot czar” for California, has her hands full, that much is certain.
Oakland and LA talking public banks for pot
Indeed! Both cities are looking at creating public banks designed to benefit the cannabis industry. While I’m still on the fence about whether or not I think it’s a good idea, at the moment it’s probably not a bad idea, so I can go with that for now.
I’ll write an article in the coming weeks that details my thoughts about creating a bank just for cannabis – and why I think there are more pitfalls and traps than most would figure in such a setup – but I want to do a bit more research before I start putting pen to paper.
Attorney general lining up ducks to start coming after California cannabis companies?
I’m going to leave you with this one…
“I love that program,” Sessions said. “We had so much fun doing that, taking drug dealers’ money and passing it out to people trying to put drug dealers in jail. What’s wrong with that?”
It occurs to me that our esteemed AG might be gearing up to make a push at state licensed cannabis businesses. In California, no less. Because we all know that’s the land of the godless heathens and they need to be taught a lesson by the “real” folks of the government.
Which makes for interesting discussions all over the place, especially in regards to the state of Nevada and their shiny new rec use program. They were back in court last week, the Nevada Supreme Court this time, discussing the transportation situation.