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Colorado #1 from worst to first.......
Posted on 8/19/14 at 1:02 pm
Posted on 8/19/14 at 1:02 pm
Colorado #1 yet they failed to mention that the WEED industry is largely responsible for the economic surge from worst to first place.
LINK
LINK
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Posted on 8/19/14 at 1:03 pm to Tiger Tat
slideshow;dr
Posted on 8/19/14 at 1:05 pm to Tiger Tat
quote:[citation needed]
Colorado #1 yet they failed to mention that the WEED industry is largely responsible for the economic surge from worst to first place.
Posted on 8/19/14 at 1:07 pm to Tiger Tat
Their weed economy is largely dependent on the fact that it's still illegal everywhere else except Washington. Most of the money they are making from weed would disappear overnight if other states would legalize it.
Posted on 8/19/14 at 1:08 pm to Iosh
quote:
[citation needed]
no its not.
I would actually say its weed tourism that is driving the growth, plus an incredible ski season.
I met a dude that is the grow ops manager for the 2nd largest dispensary chain in CO. They are flipping stores to recreational from medicinal as fast as they can. he said almost all of the people buying in stores are from out of state. the locals are buying on the black market, tailgating, growing or have their medical.
Posted on 8/19/14 at 1:18 pm to Hawkeye95
quote:As much as I'm happy for Colorado that they're repealing the idiotic prohibition laws, the entire recreational cannabis industry is a drop in the bucket compared to the billions of petrodollars pouring into the D-J Basin.
no its not.
I would actually say its weed tourism that is driving the growth, plus an incredible ski season.
Posted on 8/19/14 at 2:09 pm to Iosh
quote:
As much as I'm happy for Colorado that they're repealing the idiotic prohibition laws, the entire recreational cannabis industry is a drop in the bucket compared to the billions of petrodollars pouring into the D-J Basin.
I'll take his friends first hand opinion over your theory any day of the week.
Posted on 8/19/14 at 2:12 pm to Tiger Tat
quote:
Their weed economy is largely dependent on the fact that it's still illegal everywhere else except Washington. Most of the money they are making from weed would disappear overnight if other states would legalize it.
That was my intent in the post; maybe La. should think about it. People already flood here for NOLA; the Sheriffs Assc. and the Commercialized Prison Conglomerate need to back off.
Posted on 8/19/14 at 2:22 pm to Iosh
quote:Much truth here.
the entire recreational cannabis industry is a drop in the bucket compared to the billions of petrodollars pouring into the D-J Basin.
Posted on 8/19/14 at 2:25 pm to constant cough
quote:
Their weed economy is largely dependent on the fact that it's still illegal everywhere else except Washington. Most of the money they are making from weed would disappear overnight if other states would legalize it.
they have a good 2-3 years until anyone can catch up.
CO had a regulatory system in place prior to legal weed, which enabled them to transition quickly to recreational. Plus infrastructure to support the growing of cannabis for recreational sale.
California has the infrastructure but no regulatory framework. Same with Oregon.
And in two years, CO will be that much farther ahead. So sure, you will see a leak of tourist dollars to those locales. But I bet CO will have a stranglehold over the recretaional cannabis travel until 2018 or so.
Posted on 8/19/14 at 2:34 pm to Tiger Tat
quote:
I'll take his friends first hand opinion over your theory any day of the week.
There's your evidence that marijuana damages the brain
Posted on 8/19/14 at 2:37 pm to Tiger Tat
quote:Does your "friend" work in the O&G industry?
I'll take his friends first hand opinion over your theory any day of the week.
The total sales of recreational marijuana for the six-month period of January-June were $308 million. LINK $308m worth of production isn't too shabby, especially since we know that 100% of that was produced within the state.
Now, I'm just going to look at crude oil production here. I'm not going to look at gas. I'm also not going to look at refining or any other ancillary economic activity; sufficeth to say that a new shale drilling operation is going to bring a shitload more support jobs in its wake than an edible bake shop. But let's just look at the raw materials and assume that 100% of the oil is just sucked up and shipped straight out. We also only have data so far for the first five months of 2014, not the first six, but it will be enough to prove my point.
LINK
The first five months of 2014 saw 27.926m barrels of crude oil produced from the state. Let's make the comparison even more friendly by comparing just the increase from 2013. First five months of 2013 saw 24.305m barrels. So that's an increase of 3,621,000 barrels of crude.
During this period the price of CO crude floated more or less around $90/barrel. LINK
$90 x 3,621,000 = $326m, give or take.
So just five months (not six) of just the increase (not the total) of just the raw material (not the end sales) of just one component of an industry with a shitload more bring-along than cannabis produced more value than the entire MJ industry's honeymoon period. And make no mistake, that number is going to go down once more dispensaries open, production of cannabis increases, and the price falls. It's a weed, it doesn't take much to grow it. RAND thinks that when all is said and done, without a price floor (as opposed to percentage taxes), the ultimate cost once economies of scale kick in is going to be about the same as tea, and I don't see any reason to disbelieve them.
I'm not trying to shite on Colorado here. They did a great thing for the country and stuck it to the feds, and that warms the sub-cockles of my heart. But your stoner buddies are not the reason Colorado's economy is booming.
This post was edited on 8/19/14 at 2:41 pm
Posted on 8/19/14 at 2:53 pm to Iosh
quote:
But your stoner buddies are not the reason Colorado's economy is booming.
O&G is definitely a contributing factor.
But yes, $308M in retail sales isn't that much but if the majority of that is going to tourists. let's say tourists are spending $185 in weed for each visitor (ridiculous amount fwiw, unless bringing it home).
Let's also say 60% is going to tourists. That is roughly 1M tourists. Figure they stay for 3 nights at a hotel ($100/night), plus meals for 3 days ($35/day), and throw in $100 in entertainment - a concert, plus $50 for transportation. That is $550 per tourists.
And that $308M suddenly jumps to almost $900B
its reasonable too, especially since those spending estimates are low.
O&G is huge here and booming big time, but cannabis is a huge part of the boom.
Posted on 8/19/14 at 3:01 pm to Hawkeye95
quote:
Hawkeye95
Not as big as you think.
Cannabis is effectively 1 product.
Oil & gas is directly related to almost everything; including energy for the Cannabis shops etc.....
I can tell you that one of the refineries I cover in Texas makes in the billions.
We are also not even talking about the jobs in which the oil & gas industry creates.
Posted on 8/19/14 at 3:05 pm to JayDeerTay84
quote:
Cannabis is effectively 1 product.
sure but corn is one product, so is soybean.
cannabis is huge.
Is the O&G industry bigger than the cannabis industry? of course. what industry has a faster rate of growth? cannabis.
Posted on 8/19/14 at 3:08 pm to Hawkeye95
quote:
Is the O&G industry bigger than the cannabis industry? of course. what industry has a faster rate of growth? cannabis.
Faster rate of growth doesn't mean anything as two vastly different industries.
Oil & gas runs this country.
Posted on 8/19/14 at 3:09 pm to JayDeerTay84
quote:
Oil & gas runs this country.
true
but if you look at why CO economy is doing really well, cannabis is a top reason. O&G have been huge in CO for decades.
Posted on 8/19/14 at 3:15 pm to Hawkeye95
quote:
Hawkeye95
Put it to you this way. If you took out the cannabis Colorado would still be ranked close to where it is at.
Posted on 8/19/14 at 5:05 pm to Hawkeye95
quote:This is ludicrous. Not only are you pulling numbers out of your arse as opposed to citing them, and not only are you assuming every tourist is a singleton, but not every tourist who buys cannabis was taking a trip specifically to buy cannabis. You're essentially awarding the recreational cannabis industry $550 for every individual who may have bought a quarter of sour diesel on a lark while they were in town for a ski trip / wedding / visit with family or friends they would've taken anyway.
But yes, $308M in retail sales isn't that much but if the majority of that is going to tourists. let's say tourists are spending $185 in weed for each visitor (ridiculous amount fwiw, unless bringing it home).
Let's also say 60% is going to tourists. That is roughly 1M tourists. Figure they stay for 3 nights at a hotel ($100/night), plus meals for 3 days ($35/day), and throw in $100 in entertainment - a concert, plus $50 for transportation. That is $550 per tourists.
And that $308M suddenly jumps to almost $900B
its reasonable too, especially since those spending estimates are low.
And money comes in from out of town for crude oil, too. LINK
This post was edited on 8/19/14 at 5:10 pm
Posted on 8/19/14 at 5:19 pm to Iosh
quote:
Not only are you pulling numbers out of your arse as opposed to citing them
there are very little numbers to cite. its called assumptions. I stated them pretty clearly.
quote:
and not only are you assuming every tourist is a singleton
I think the $185 in spend on cannabis (a gram is $20 and will last a newbie a weekend easy) takes care of that.
quote:
but not every tourist who buys cannabis was taking a trip specifically to buy cannabis
Yes, but there are a lot, and my estimates are very low for spend while they are here.
DIA has set records for visitors this year. its up around 10% this year, and considering that its one of the busiest airports in the country, that is saying something.
And hotels.com says CO has seen a bump of 20% in terms of searches.
Its a draw. Its bringing people here.
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