Cultivation facilities will be required to pay a 15 percent excise tax on the wholesale sale of recreational marijuana. Retail purchases of retail marijuana will be subject to state and local sales tax. Retailers will collect sales tax from consumers and remit it to the state.
However, fossil fuels continue to supply nearly 80 percent of world energy use through 2040. Natural gas is the fastest-growing fossil fuel, as global supplies of tight gas, shale gas, and coalbed methane increase.
Today oil supplies about 40% of the worldâs energy and 96% of its transportation energy. Since the shift from coal to oil, the world has consumed over 875 billion barrels. Another 1,000 billion barrels of proved and probable reserves remain to be recovered. From now to 2020, world oil consumption will rise by about 60%. Transportation will be the fastest growing oil-consuming sector. By 2025, the number of cars will increase to well over 1.25 billion from approximately 700 million today.