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California winery CEO torches vineyards and sells off land as industry collapse continues
New York Post • • business
Key Points:
- California’s wine industry is facing severe financial struggles, exemplified by vineyard owner Jason Smith burning his own vines after deciding they were worth more as ashes than grapes.
- Wine sales in the U.S. have hit a two-decade low, partly due to a decline in overall alcohol consumption, with only 54% of American adults drinking alcohol according to a 2025 Gallup poll.
- The once-booming demand for California pinot noir, spurred by the 2004 film "Sideways," has plummeted, with pinot production dropping 30% since 2021, severely impacting wineries heavily reliant on this varietal.
- Many vineyards are closing or selling off assets, with industry experts warning that hundreds more wineries could shut down in the next two years, threatening the future of California’s wine industry.
- Despite the downturn, some industry leaders remain cautiously optimistic, viewing the current challenges as part of cyclical changes in the wine business.
