Obama: Pot is not more dangerous than alcohol

President Barack Obama said he doesn't think marijuana is more dangerous than alcohol, "in terms of its impact on the individual consumer."
"As has been well documented, I smoked pot as a kid, and I view it as a bad habit and a vice, not very different from the cigarettes that I smoked as a young person up through a big chunk of my adult life. I don't think it is more dangerous than alcohol," the president said an interview with The New Yorker magazine.

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Now think about the economics of legal weed :

"On the black market, a lot of folks are compensating drug dealers and everyone else in the supply chain for the risk of arrest and incarceration," says Beau Kilmer, co-director of the RAND Drug Policy Research Center. "If marijuana were fully legalized and you could grow it outdoors like any other commodity, the production costs would plummet over 90 percent."

On the black market, high-grade offerings are fetching $156 to $250 an ounce, according to data compiled by Narcotic News.

That prevailing $400-per-ounce price is no doubt inflated by limited inventory and pent-up consumer demand that may fade over time. To optimize profits, though, enterprising pot retailers will still have an incentive to go high-end, specializing in more potent grades, promoting add-ons such as vaporizer refillable cartridges that can be used for pot consumption, and conjuring up new products (cannabis-infused chocolate lava cake, anyone?).

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