California Grapples With Pot Shortage
As predicted, marijuana patrons across California are entering their local dispensaries only to find rows upon rows of empty shelves. The dearth of cannabis is a result of new regulations that took effect July 1 which require lab testing of all marijuana products as well as strict new packaging and labeling requirements. Any marijuana that doesn't meet the new rules must be discarded.
Regulators say the problem will fix itself as more licensed laboratories open their doors and speed up processing. But retailers are worried their customers are already seeking out the black market and will be unlikely to return.
The financial harm is setting in. The industry could lose up to $400 million as a result of the new regs, which have shops trashing weed like a rancid egg salad.