Final answer:
Despite King James I's negative views on tobacco, its production enriched an emerging class of planters in Virginia and was critical to the colony's economic viability. John Rolfe's introduction of a sweeter tobacco variety and policies like the 'headright policy' helped stabilize and grow the settlements. The question regarding Walter Raleigh and the Earl of Kent is inaccurate, as it was John Rolfe who pioneered the tobacco industry in Virginia.
Step-by-step explanation:
The production of tobacco was pivotal to the early success and stability of the Virginia colony. While King James I of England was personally opposed to tobacco, labeling it a "noxious weed," its popularity in Europe ensured the crop's value and profitability. The Virginia Company greatly benefited from tobacco cultivation as a cash crop, particularly after John Rolfe introduced a sweeter variety from the Caribbean, which was more appealing to European consumers.
Despite King James I's disapproval, the economic success attributed to tobacco did not decline due to health concerns during this period. Instead, the booming tobacco industry enriched a nascent class of planters and was an integral part of the colonial economy, which included the creation of a second tobacco colony, Maryland, by the Calvert family for providing a refuge for English Catholics.
Tobacco cultivation required significant labor, leading to the institution of the "headright policy," which further promoted colonization by granting land to settlers. Therefore, while tobacco was met with some royal criticism, its cultivation and economics led to a more permanent and economically stable Virginia settlement.