Thursday, July 8, 2010

Legal pot in CA could drop prices by 80%

A study released Thursday by the Rand Corporation claims that marijuana prices in a post-legalization California could drop by up to 80 percent, placing some of the most delicately cultivated buds in the world at less than $40 an ounce.

An initiative that would legalize California's most valuable cash crop will be on the state's Nov. 2010 ballot. Should it pass, individual counties and municipalities would be able to opt in or out of the legalized system; those which opt in would be given additional tax and enforcement options, and residents would be allowed to transport up to one ounce and grow plants in a five-foot-by-five-foot area.

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