Experts warn of consequences of legal pot

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WASHINGTON, July 18 (UPI) -- Experts on a panel organized by the American Enterprise Institute said Tuesday legal marijuana in one state could lead to lower prices across the United States.

Three states -- Colorado, Oregon and Washington -- are holding referendums in November on legalizing marijuana. Jonathan Caulkins, co-author of "Marijuana Legalization: What Everyone Needs to Know," said it is "entirely possible" legalization could be approved in at least one of the three, the Los Angeles Times reported.

The Colorado initiative is especially dangerous because it would make obtaining a license to grow marijuana easy, he said.

"They would be able to provide marijuana to New York state markets at one quarter of the current price," he said.

Mark Kleiman, a professor of public policy at UCLA, said federal officials should warn the governors of any states that legalize marijuana that the national government has the power to make their lives difficult unless they curb exports.

Federal law is already in conflict with the laws of states where medical marijuana is available. While the Obama administration has said it would not interfere with medical marijuana, it has shut down some dispensaries.