Instead, starting Tuesday, medical marijuana users, or aspiring users, can send in an application directly to sanctioned corporate producers , along with a doctors note (or in some cases, a nurses note). If approved, they can place an order, pay the market price (the black market price is about $10 a gram; officials say the medical marijuana price will drop below that within a year), and wait for the secure courier to deliver their weed. (MORE: Majority of Americans Support Legalization of Marijuana ) There are nearly 40,000 people registered to use the drug under the current system in a country with a tenth the population of the U.S., and the government expects that number to balloonup to 450,000 by 2024and fuel what could become a $1.3 billion domestic pot industry. But the government expects that the privatized system, with only heavily-vetted producers (so far there are two licensed distributors, of at least 156 applications), will help ensure a higher level of oversight. Were fairly confident that well have a healthy commercial industry in time, Sophie Galarneau, a senior official with Health Canada, told the Canadian Press. Its a whole other ball game. The new regulations have failed to win over advocates for legalized marijuana, who have faced strong resistance from the conservative government led by Prime Minister Stephen Harper. In November, even as two states in the United States voted to legalize recreational marijuana, the Harper government passed strict minimum penalties for people who grow as few as six marijuana plants. They treat pot like its plutonium, says Blair Longley, head of the single-issue Marijuana Party that fielded five candidates in the 2011 parliamentary elections. Speaking to TIME, Longley says hes concerned the market-based system, whichnixes the right to cheaply grow marijuana at home, will make marijuana less affordable for patients. We always knew that marijuana would get legalized in the worst possible way. Its not a surprise that thats whats happening, Longley says.
Canada Stocks Fall as Oil Shares Slide Amid U.S. Shutdown
Were delighted to see such a high percentage of high-net worth Canadians opening up their wallets, she said. The survey also revealed that almost half (47 per cent) of wealthy Canadians expect Canadas economy to improve this year, expecting solid gains in stocks and real estate in the next five years. They survey shows affluent Americans are more optimistic about what the future holds for the Canadian economy than their counterparts to the north, with 61 per cent stating that they expect increased prosperity for Canada. Meanwhile, 61 per cent of the well-to-do on this side of the border are optimistic about what the future holds for the U.S. economy. Fifty-five per cent expect to see gains in Asia but just 19 per cent expect the financial situation in Europe to improve in the near future. Interestingly, well-off Ontarians lag the national scene, with just under half (46 per cent) saying they are better off now than they were prior to the recession. They appear to be cautiously optimistic compared to the rest of Canada, though it bodes well for the economy that they too are back to their old spending habits, said Ryan McNally, BMO Harriss regional director and managing director for the GTA, in a release. The BMO study is the second in a series this year examining trends among Canadas affluent. We value respectful and thoughtful discussion. Readers are encouraged to flag comments that fail to meet the standards outlined in our Community Code of Conduct .
Canada Rolls Out a ‘$1 Billion’ Privatized Medical Marijuana Industry
Barrick Gold Corp. climbed 2.3 percent to C$19.02 and Semafo increased 6.7 percent to C$2.40 as gold rebounded from an eight-week low. Gold futures for December delivery rose 2.7 percent to $1,320.70 an ounce in New York , the most in almost two weeks. Canadian Natural Resources declined 1.7 percent to C$32.25 and Cenovus Energy Inc. slipped 1.6 percent to C$30.31 as energy stocks dropped 0.5 percent as a group. U.S. crude production climbed last week, the Energy Information Administration said. Output rose to 7.8 million barrels a day in the week ended Sept. 13, the highest level since May 1989. Paladin Energy jumped 6.4 percent to 50 Canadian cents. The company said yesterday it will cut cash costs for 2014 by $23 million, including a 10 percent reduction in board and management base salaries.
Canada has ‘lot of catching up to do’ in Asia
They don’t have a plan. There is not a coherent strategy that covers trade, investment, security, the environment and social and cultural issues.” “I would be the last person to discourage the government from doing what it is doing, but there is a lot of catching up to do,” said Len Edwards, who has been Canada’s ambassador to South Korea and Japan as well as a deputy minister of foreign affairs before becoming a fellow at the Centre for International Governance Innovation in Waterloo, Ont. “Everything in Asia takes time, effort and persistence, and we have been inconstant partners. It was not just this government but during the latter years of Liberal government (that) Canada backed away from Asia. Our companies left the region, too. It takes a long time to rebuild ties.” Fen Hampson, who with Edwards has briefed the Harper cabinet about the importance of trade with Asia, decried a Canadian “mindset that is still oriented toward the Atlantic and the United States. “Aside from a few major Canadian firms which are in the region, there is complacency in the business community and risk aversion and too high a comfort level with doing business in traditional markets such as the U.S.,” said the Carleton University international affairs professor and director of the CIGI’s global security program. “We require a much broader strategic engagement. We can’t just send ministers and trade missions. We have to capture the imagination of the Canadian public. We need to get the Canadian business community behind this and we are nowhere near that yet.” The scale of the problem facing those who see much of Canada’s future prosperity tied to trade with Asia could be seen in an Asia Pacific Foundation poll conducted earlier this year. The Angus Reid survey found that fewer Canadians regarded their country as part of the Asia Pacific region previously.