I toldja! I toldja!
I knew this would happen. In fact, to be honest, I’m surprised it took this long.
As marijuana becomes legal in more and more of the U.S., I knew sooner or later Big Tobacco would look to get into the game.
Sure enough, a bunch of huge stories came out this week that Altria … the parent company of Philip Morris, makers of Marlboros, is investing $1.8 billion in Cronos, a Canadian marijuana company. And as we all know, marijuana was legalized across ALL of Canada a couple of months ago.
About 80 million people in the U.S. live in states where marijuana is now legal. Add that to the 36 million of so people in Canada … that’s a lot of legal marijuana users. And that number is just going to continue to grow as more and more states figure out that keeping pot illegal is not just stupid but also a waste of a BIG potential tax source.
So, tobacco sales in the U.S. have been in decline for decades. Big Tobacco is being forced to diversify … by pouring more energy in developing tobacco markets in the Third World, by investing in e-cigarettes (though the future of e-cigs is now in doubt with new FDA regulations being proposed) and now pot. It was totally predictable.
My biggest concern about Big Tobacco getting their beak wet in the pot industry is my fear that they’ll pull the same underhanded, amoral crap with pot that they’ve pulled with marijuana for decades. For instance, I could totally see Big Tobacco artificially adding nicotine into marijuana to make it physically addictive like cigarettes. (And then acting all “Moi? Not us!” before Congressional committees about it). Think of it. The pure, amoral genius of it. The most addictive substance in the world added … to marijuana. They would do it, too. They totally would.
One of the biggest worries about legalizing pot was allowing big corporations to take over the pot industry. I remember an article from a year or two ago worrying that the beer industry would get involved in pot. Honestly, that doesn’t scare me nearly as much as Altria or any tobacco company getting their paws on it.
Something to keep an eye on.