SAN JUAN, Puerto Rico – Puerto Rico's Governor Alejandro García Padilla has authorized the use of marijuana for medicinal use, in a surprise move after Puerto Rico's legislature failed to act on the issue.
In his article entitled “Big Tobacco’s future as Big Marijuana,” Leonid Bershidsky advises investors that, “Big Tobacco is poised to dominate” the legal cannabis market, and for that reason, “Big Tobacco may be one of the biggest opportunities of a lifetime.” But potential investors beware: As Warren Buffet has said, “never invest in a business you can’t understand.” And it appears that Mr. Bershidsky doesn’t understand the cannabis business.
More than 19 million people in the U.S. aged 12 and older reported using marijuana in 2012. If recreational marijuana is ever legalized beyond the four states where it's currently permitted, the tobacco companies will be perfectly positioned to capture this vast market.
Mexican traffickers are sending a flood of cheap heroin and methamphetamine across the U.S. border, the latest drug seizure statistics show, in a new sign that the United States' marijuana decriminalization trend is upending the North American narcotics trade.
"More and more people are realizing that it makes sense to choose licensed, regulated, and taxed marijuana businesses over the drug cartels," said Mike Elliott, head of the Colorado-based Marijuana Industry Group.
WASHINGTON, D.C. – A 2013 survey in the New England Journal of Medicine found that nearly 8-in-10 doctors approved the use of medical marijuana. Now, a wide-ranging survey in the U.S. state of California finds that medical marijuana patients agree: 92 percent said that medical marijuana alleviated symptoms of their serious medical conditions, including chronic pain, arthritis, migraine and cancer.