Pandemic, Fires, Floods Set Stage for Election
NATIONWIDE – Hopes for a September 21 congressional vote on a bill that would decriminalize cannabis were dashed after House aides reported the vote had been postponed until after the 2020 presidential election. The MORE Act, which was introduced to Congress by vice presidential candidate Senator Kamala Harris (D-Calif.), has been pushed to the background in what promises to be a contentious fight for the presidency.
Despite what feels like a different disaster everyday to some, global cannabis markets have shown remarkable “resilience” in the face of unprecedented challenges, according to an op-ed written by eminent cannabis attorney Robert Hoban for Forbes.com.
The founder of Hoban Law Group gave an assessment of cannabis supply and demand in current global markets, and predicted that even though challenges around regulatory policies and free trade still present difficulties in several countries, cannabis is a commodity that’s “here to stay.” Hoban also pointed out that hemp will see increased demand as the raw material for CBD oil and extracts, among other industrial uses.
“During a time when our world economy has been shaken to its core, here is a commodity that has proved its resilience. Cannabis is essential and it is here to stay,” Hoban wrote. “If you ask me, the case for a global cannabis industry could not be more compelling. The next step, of course, is to get the world in tune from a regulatory perspective. This is critical so that we can achieve the free flow of cannabis goods and services, no different than other global commodities, like coffee and flowers.”
Read the full article on MG Magazine