Yes, we should definitely be utilizing this plant for hemp at the least. Why not? It is a valid and useful source of material. The government can even have their DEA goons stomping around making sure it isn't smoked if they must. Honestly though, we should just legalize it. At least medically.
If it is earth-friendly / green, produces within 4-6 months to full maturity, saves trees, creates jobs and industry, is considered a super-nutritive food, and allows us to once again use paper without feeling guilty, why not utilize it? Why has the United States government within the last century banned its use? If it can't be smoked for psycho-active effects, it just doesn't make sense. WHAT ARE THEY NOT TELLING US?!?!