Beware the 'Weed Apocalypse'
California pot entrepreneurs brace for the dreaded day, while consumers quite like it.
Sunday. July 1st, 2018. A day that will live in infamy.
This is the day California state regulations for cannabis compliance go into effect, just six months after Golden State made recreational marijuana use legal.
California's strict quality standards have been a headache for many legal marijuana providers. The United Cannabis Business Association, which represents nearly 150 marijuana businesses, wrote a letter to Governor Jerry Brown last Friday, urging him to extend the deadline.
"Forcing the industry into compliance ... will further cripple the already struggling regulated market," the letter said.
The potential outcome could be so bad some in the industry are calling it "The Green Apocalypse."
But the Bureau of Cannabis Control seemed to offer no indication that it would change its plans. Spokesman Alex Traverso responded in an email, "We issued our emergency regulations back in November, and at that time we were pretty clear about the fact that there would be a six-month transition period for retailers to use up their existing supply. We felt that was a sufficient amount of time to deplete stock on hand and adapt to California's new rules."
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What has been a nightmare for cannabis vendors, could be a windfall for cannabis shoppers.
“There’s going to be a lot of massive sales, a lot of retails fire-selling a lot of products,” Nick Danias, manager of The Pottery cannabis dispensary in mid-city Los Angeles, told Reuters.
“It’s about getting rid of a lot of older product that doesn’t meet city and state requirements and getting through that old inventory and moving on to the next steps after July 1,” he said.
So big are the sales, the industry dubbed the night before the regulations "Green Saturday," after the infamous pre-Christmas shopping spree "Black Friday.
“People are buying stuff they don’t really need,” Scott Lambert, the chief executive of The OG Collective in Cathedral City, told The Desert Sun. “It’s just like Toys ‘R’ Us going out of business.”