Uruguay Legalizes Pot Trade, But Who "Uses" The Most?

Tyler Durden's picture

"The attitudes toward cannabis are shifting rapidly," says a former DEA-agent-turned-pot-growing-company-lawyer, adding that "the potential social and financial returns are enormous." As ironic as that maybe, perhaps it is why Uruguay has just become the first nation in the world to allow its citizens to grow, buy and smoke marijuana. As Reuters reports, the pioneering government-sponsored bill establishes state regulation of the cultivation, distribution and consumption of marijuana and is aimed at wresting the business from criminals. "Our country can't wait for international consensus on this issue," said one politician as demand is rising globally as the following chart shows...

 

DEA Agent becomes Pot-growing-firm lawyer... (via The Atlantic):

Patrick Moen is a 36-year-old former supervisor at the U.S. Drug Enforcement Agency, where, until recently, he led a team based in Portland that fought methamphetamine and heroin traffickers. 

 

Now, he is embarking on a career change. A rather dramatic one.  The Wall Street Journal reports today in a delightful article that Moen has become the in-house lawyer at Privateer Holdings Inc., "a private-equity firm that invests solely in businesses tied to the budding legal marijuana industry."

 

In other words, the revolving door between business and government just made an unexpected, and very druggy, turn.

 

...

 

"The potential social and financial returns are enormous," Moen told the Journal said of his new business. "The attitudes toward cannabis are shifting rapidly."

 

Indeed they are.

As Uruguay appears to show (via Reuters):

Uruguay's Senate is expected to pass a law on Tuesday making the small South American nation the world's first to allow its citizens to grow, buy and smoke marijuana.

 

The pioneering government-sponsored bill establishes state regulation of the cultivation, distribution and consumption of marijuana and is aimed at wresting the business from criminals.

 

Cannabis consumers would be allowed to buy a maximum of 40 grams (1.4 ounces) each month from state-regulated pharmacies as long as they are over the age of 18 and registered on a government database that will monitor their monthly purchases.

 

Uruguayans would also be allowed to grow up to six plants of marijuana in their homes a year, or as much as 480 grams (about 17 ounces). They could also set up smoking clubs of 15 to 45 members that could grow up to 99 plants per year.

 

The bill, which opinion polls show is unpopular, passed the lower chamber of Congress in July and is expected to easily pass the Senate on the strength of the ruling coalition's majority.

 

...

 

"Our country can't wait for international consensus on this issue," Senator Roberto Conde of the governing Broad Front left-wing coalition

 

Rich countries debating legalization of pot are also watching the bill, which philanthropist George Soros has supported as an "experiment" that could provide an alternative to the failed U.S.-led policies of the long "war on drugs."

 

...

 

"This development in Uruguay is of historic significance," said Ethan Nadelmann, founder of the Drug Policy Alliance, a leading sponsor of drug policy reform partially funded by Soros through his Open Society Foundation.

 

"Uruguay is presenting an innovative model for cannabis that will better protect public health and public safety than does the prohibitionist approach," Nadelmann said.

But who is "using" the most...

 

 

So USA is #1 in something!!