Source: Extreme Biodiesel Inc
NEW YORK, NY / ACCESSWIRE / April 17, 2015 / Extreme Biodiesel Inc. (XTRM) announced The Federal ban on industrial hemp continues to be one of the most outdated laws issued in Washington.
Farmers and manufactures across the United States have been blocked from growing hemp or producing products from a very useful and versatile plant. In 2014 congress passed the FARRM bill containing sec 7606 allowing the cultivation of hemp for the first time in over 50 years thus allowing certain parties to begin research.
U.S. Rep Thomas Massie is trying to put an end to this illogical ban this year and has reintroduced H.R. 525, the “Industrial Hemp Farming Act” to congress and signs are indicating that it could get passed shortly.
The misunderstanding of what Hemp is in relation to Marijuana is most likely the cause of such confusion. As the Congressional Research Service (CRS) reports, hemp and marijuana plants are distinct from one another. Although they both descend from the same species of plant, their chemical makeup is different, as is their physical appearance. Importantly, hemp has too low a THC (delta-9 tetrahydrocannabinol, marijuana’s primary psychoactive chemical) content to have any intoxicating effect.
Meanwhile, other industrialized nations such as China and Canada are seeing great benefits of producing hemp. In fact China is one of the largest producers and exporters of hemp products in the world, and we import hemp from China. Canada actually has an estimated 100 active hemp farms.
The passing of the FARRM bill was a tremendous victory in the legalization of hemp, but the law needs to change even further so that hemp can be grown and used for more than simply academic and research purposes.
H.R. 525 changes the federal definition of marijuana to exclude industrial hemp, and would therefore prevent federal government interference with a state that chooses to produce hemp. The bill has 54 co-sponsors, including Kentucky Reps. Andy Barr, Ed Whitfield, and John Yarmuth. Sen. Ron Wyden introduced a Senate companion bill, co-sponsored by Majority Leader Mitch McConnell and Sen. Rand Paul. The momentum behind industrial hemp freedom continues to grow, not only at the federal level, but also at the state level. To date, twenty-one states (including California) have legalized hemp.
Joseph Spadafore, President of Extreme Biodiesel in California commented “Extreme Biodiesel, in particular its wholly owned subsidiary XTRM Cannabis Ventures has been positioning itself to be ready when full legalization of Hemp and Marijuana occurs on both Federal and State levels. In 2014 the company brought on Dr Rainer H Busch to assist in research and development of Hemp into Biodiesel as well as MMJ Oils research. Some of what we have been doing is growing comparable plants to Hemp such as Nettle to make sure we are ready to go once the ‘green light’ is announced. Recently we were finally granted the permit for a water well on our property in California to allow continued progress of our development. We are encouraged by the efforts of U.S. Rep Thomas Massie and as XTRM moves forward we will continue to issue updates.”
About Extreme Biodiesel
Extreme Biodiesel is an alternative fuel and recycling company with several wholly owned subsidiaries such as XTRM Cannabis Ventures, and Extreme Biodegradable Products that work together to compliment Extreme Biodiesel. Our mission is to provide a cost-effective, high-quality alternative diesel fuel comprised of natural plants and food waste, create “green” jobs, reduce the environmental impact of fossil fuels and diminish US reliance on foreign oil.
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. XTRM is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE: Extreme Biodiesel Inc