Tags: US | Marijuana | Legalization

Study: Pot Prices Could Plummet Post-Legalization

Wednesday, 07 Jul 2010 02:42 PM

 

A new study says legalizing the recreational use of marijuana in California could sharply drive down prices for the drug and possibly undercut the tax windfall that supporters have touted.

The study published Wednesday by the RAND Drug Policy Research Center says "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 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.

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

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Alabama Group: Some Judges Might Give Same-sex Marriage Licenses

Sunday, 25 Jan 2015 17:29 PM

The association representing Alabama's probate judges says it's possible some judges there may issue marriage licenses t . . .

'Potentially Historic' Storm Headed for Northeast

Sunday, 25 Jan 2015 17:20 PM

A potentially historic storm could dump 2 to 3 feet of snow from northern New Jersey to Connecticut starting Monday, c . . .

Two Dead in Apparent Murder-suicide at NYC Home Depot -NYPD

Sunday, 25 Jan 2015 17:12 PM

Two people were killed after a shooting in a Home Depot store in Manhattan's Chelsea neighborhood on Sunday afternoon in . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved