Last year, in February 2014, Hemp was legalized on a federal level by a Farm Bill. As of that time, only universities could use hemp for research. This does not seem to be bad news since Canada’s hemp industry only boomed after two years of hemp research in universities. In addition, over three-fourths of Americans believed that the legalization of marijuana is impossible to avoid in a poll last year. People have been ready for the cannabis industry for over a year now, regardless of protests and drug wars.
The main reason why our country was so ready for cannabis legalization is because of its economic potential. For the last fifteen years, Canada has built a great hempseed oil industry that almost broke a billion dollars in early 2014! This is just off the oil from the seed and in less than a year. Longterm, hemp has the potential to be even bigger than psychoactive marijuana – a world leading cash crop. Although the seed makes tons of money, the real exciting part that hemp may be used for is the energy sector.
Throughout Europe, countries are becoming independent on energy and fossil fuels through a biomass combustion process called gasification. Gasification is typically used on farm waste, and their units are about the size of a refrigerator. Not only that but the best part is is that they are not too expensive. The U.S. army has been buying a ton of these. To make the process seem even more beneficial, European countries are creating entire communities based on these gasification units, and putting unemployed people to run it. As a result, countries are becoming independent of petroleum, and of larger grids. The best thing to seeing, however, would be a hemp energy producing application part of the first-generation processing facilities in the U.S.
In the end, hemp is a good idea economically and environmentally. Canadians make close to a $300 profit per acre. If around, let’s say, 1,000 acres were producing hemp, that’s $300,000 a year. May I remind you that that is just off the seed, and a bare minimum a number of acres that may be dedicated to hemp. Also, the hemp seed would have great fiber applications and may be used for production, and health. Environmentally, a fossil-free energy would also be great for our climate. No more burning fossil fuels into our atmosphere, but that’s only if hemp is legalized.
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