Per an article in Yahoo. Police seized 1500 pot plants in Chicago and quote: “they [police] began to chop down about 1,500 marijuana plants that police said could have earned the growers as much as $10 million dollars
WOW! But let’s dig in deeper shall we?
It is true that a farmer is lucky to make $1000 profit per acre, so this is a great deal for any farmer. This was just about 2 acres = $10,000,000 “police dollars” of drug seizure.
This certainly sounds like a huge haul of pot. But the overstated value just adds to America’s failed prohibition on pot.
The actual street value = Assuming 1 lb. high quality pot per plant= 1500 plants x 16 oz/lb x $363.68/oz street dollars = $8,728,320 dollars if high quality (highly unlikely in Chicago lot under shade.)
However, my best guess would be a mere half pound of low quality pot per plant = $1,185,120
Net profit after subtracting the expense of planting the pot, trees, bribes, gardeners and seed = $1,185,120 – 30% overhead cost = $911,630
This represents about 10X overstated value on the real value of the pot on the part of the police.
This is the kind of foolish anti-pot mathematic continues to waste my tax-payer money on fighting pot.
PS: I am not a pot smoker. Just a tax-payer who is tired of having my tax money wasted on a failed prohibition on marijuana.