Wednesday, October 20, 2010

Is California's pot crop worth more than its wine industry?

So asserts NBC Bay Area:

The most persuasive argument for legalizing pot might just be a dollar sign.

California's pot crop is worth $14 billion, according to a state report. The Press Democrat points out that crushes the wine crop which comes in at $2 billion.

Legalization would be a huge shot in the arm for plenty of ancillary industries, such as banking and construction.

But even a vote to legalize pot likely wouldn't give it the kind of respectability that wine has, acknowledges the report.

Of course, there's always the possibility that the federal government would crack down. That risk might make investors too skittish to get involved. Earlier this month, Attorney General Eric Holder announced that the government would continue its dangerous raids.

If Eric Holder is going to come after pot plantings, think of what a Republican AG will do in 2013, if there is to be one.

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