Oregon is producing twice as much cannabis as people are using, according to a new study from the Oregon Liquor Control Commission. And Oregon has been overproducing marijuana for a while — leaving more than six years' worth of supply sitting on shelves and at farms.
On top of that, the Oregon secretary of state's office just released an audit saying Oregon's system for regulating marijuana needs to be strengthened.
The oversupply of cannabis has driven down prices. Since recreational cannabis was legalized three years ago, prices have dropped from $10 a gram to less than $5 a gram.
That may be good for consumers, but the worry is weak regulations plus a massive oversupply will fuel the black market.
Imagine the farmer who spent all year growing her crop, only to learn it's not worth much. That is, it's not worth much in Oregon. There's a big temptation to put the oversupply in the back of a truck, drive south to California or east to Idaho, and sell it to someone on a street corner.
But the federal government has made it very clear that a thriving black market and illegal exports are likely to lead to a federal crackdown.
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