So it happened…
The unspoken 420 stoner-dreamer: staying inside, consuming in whatever manner you see fit -as much as you see fit- while spending the entire day in bliss. Somehow, most of the country being forced to stay inside never really factored into the picture; but, we are living in an ongoing science-fiction thriller anyway, so, it is what it is.
Considering the current state of our celebrated cannabis, however, you gotta wonder what exactly is going on? The world is a little confused as times are unlike they have ever been before. Out of all the economic and social uncertainty, I wonder how the cannabis industry-the outlier of business- is fairing in such unsure and yet familiar territory? As we approach 4/20 in this momentous year, under odd circumstances, what is the state of cannabis and why should you care?
Save the Tree
Across the country, dispensaries’ doors are shut. The streets are limited. The bars and restaurants are empty. In a tourist town like Las Vegas, the world-famous Strip is nearly forgotten by street walkers almost entirely. The weed-supply, ironically, is flowing throughout the city. Corporate cannabis may be MIA but entry-level staff is operating at full capacity as the numbers are too sporadic to predict. Cannabis is no stranger to the challenges that these times pose but, as we approach 4/20, some are already at a breaking point. The cannabis industry has been rightfully deemed essential as a medical need keeping their operations in motion -for now. Despite pushback in some areas, the ordeal brings up the long fight for legitimacy and recognition with cannabis.
A few months ago, state-legal chatter and talks of mergers were spouted every day and lobbying was at its most fierce as 4/20 celebrations were in the midst. As the resulting dominos surrounding COVID-19 continue to fall, however, the industries’ focus switched to banking and survival instead of celebration. Businesses had to change their means of operation at a moment's notice while also deeming who is ‘essential’ and who is not. At the moment, most states are identifying dispensaries as health care facilities as it provides a medicine to medical patients. Despite that, it doesn’t allow for any financial support from the federal government, because of its legal standing. In combination with that, cannabis companies are left to operate with bare-bones staff, constantly changing guidelines, all on top of an impending cannabis-holiday and a vastly uncertain market.
In three different recreationally legal states, cannabis sales have slumped for six consecutive days. Regardless of it being brought on by a panic-buying frenzy, this sets a record on cannabis numbers in the US. Dually affecting revenue are the city-closures. Consumers not working means consumers aren’t buying... at least in the legal market. Transactions are mostly limited to delivery-only as businesses try to adhere to social-distancing guidelines, further cutting into any profits. In all honesty, they’re operating in an unprecedented period with no support from a government that will gladly take its money.
Money Don't Grow On Trees
So what do we do?
Unlike plant-touching companies, hemp-based businesses can try their luck with the recently passed stimulus package. For the bulk of the industry, however, that money will come nowhere near them. The once hopeful SAFE Banking Act -which would’ve allowed access to traditional financial services- was on an upward track to fix this. Unfortunately, like many cannabis bills, the almost one-sided Reefer-Madness-era Senate blocked it. Still, adding to the collective-voice, some cannabis businesses have written a formal plea to congressional leaders for inclusion in future relief packages.
“While the underlying federal issues with banking, taxes, and capital access remain, our businesses need access to some additional liquidity to ensure reliability in the medical supply chain for patient access and employee retention in these uncertain times.”
“The ineligibility of cannabis businesses for disaster assistance loans is especially inequitable given that these same cannabis businesses are required to comply with other coronavirus-related measures, such as paid sick leave coverage,” the letter said. “We are not seeking special treatment for state-legal cannabis businesses. We only seek to have them treated on an equal level as all other job-generating, tax-paying companies in this country.”
A few have asked why cannabis businesses don’t just close like other businesses have? As the previously-quoted letter mentions, those businesses are forced to cover newly mandated measures (such as setting up delivery and hiring more staff) in addition to the typical operating cost that have come with this particular situation. A full 30-day shut down for small and minority-owned businesses especially, would more than likely be followed be permanent closure.
The DEA vs. the FDA
The issue of banking lies in legality; the foundation of that issue is in the medicinal value of cannabis. Things get murky when you factor in the DEA. The DEA’s Drug Scheduling is where a lot of the blame belongs. Decriminalization is its own battle but, descheduling by the DEA is just as important.
The DEA (or the Drug Enforcement Administration) mind you is the slow-moving and blissfully-unaware group that classifies cannabis as Schedule 1. This means that it is seen to have a high-potential for abuse and it holds no medicinal value. Regardless of this classification, the DEA recently allowed for the descheduling of Epidiolex, a cannabis-derived medication. Alternatively, the medicine for severe cases of epilepsy was approved by the FDA. Epidiolex, specifically, has been removed from the Controlled Substance Act but, cannabis as a whole, remains.
On one hand, the government agrees that cannabis can save lives and is essential; but on the other, it’s listed to have no medicinal value.
It makes you rethink the competence of those in control of our laws. The people who told us that cannabis was dangerous are the same ones with their hands open looking for payouts. Those people will demand we pay higher taxes from those that don't benefit as a tax-paying companies within this country.
Ionno but, that sounds a little suspect to me.
Me, You, and Mary Jane
So, this 4/20, think about all of that. Try to think of what you can do for cannabis. Cannabis may have helped you medically or even recreationally but cannabis needs help from you. Cannabis should not be criminalized when it’s proven to have medicinal value. It should be accessible and affordable for all without the negative stigma.
If you are passionate about cannabis and want better laws for your state, get involved. The fight for our industry has had a lot of triumphs, but it isn’t over yet. If there is something you’re concerned about, educate yourself on it. Find out who can do something to fix it. Actually talk to them. If you can’t see them in person or if talking to them in person scares you, call them. Call your governor. Stoners are great but active stoners get things done!
If you need more information on who the local legislators in your city and state are or how to contact them, check out Norml.
Remember cannabis has come a long way but, now more than ever, we have to keep that progress alive and well.