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The Hemp plant, which is not to be confused with the cannabis plant, which was the hemp plant but has been bread for the flower and it's effects for so long that it is now, effectively, a different plant. Hemp itself used to produce rope, most notably for the maritime world. It is a fast growing plant, like bamboo, and thus usage does not result in deforestation.

As for oil, the oils from the plant can be used as a bio fuel. I've always heard that it was Dow Chemical who lead the witch hunt against Marijuana, because they had new synthetic materials made from the bi-products of oil refinement, which they wanted to sell to everyone as rope. Imagine taking over the entire rope market for the Western world. Yeah. So they won, hemp & marijuana both were made illegal.

I didn't know that, thanks!