USA Pharmaceutical Prices all over the map: Want cheaper prescription drugs? You better shop around

The American Health-Care System rated worst in the Western World

Consumer Reports found that in the US cash prices for several common generic medications like Cymbalta could vary greatly from pharmacy to pharmacy, even in one zip code.

Desiree Bercilla's life was jolted in May when her boyfriend was diagnosed with Bell's palsy. She received another surprise when she phoned her local pharmacy and found the drug he needed, the antiviral Valtrex, would cost nearly $600.

That was the price for the brand-name version but even the generic was more than $200. Bercilla continued to make calls until Costco, the warehouse chain, quoted her a price of less than $39 for the generic.

"My initial reaction was shock," Bercilla said. "Because I can't believe that in order for me to get the best price from the pharmacy, I have to shop around."

Bercilla, a 37-year-old with a 3-year-old daughter, got similar results when NBC News asked her to check the cash price — the amount paid by someone not using insurance — of Valtrex in her area again last month.

Prices ranged from a high of $596 at Walmart to $473 at Costco for the brand-name prescription. For the generic, Walgreens had the highest price at almost $242 while the cheapest was at Costco, selling for just under $39.

Experts say the disparity Bercilla encountered isn't a fluke. Lisa Gill, prescription drug editor at Consumer Reports, told NBC News that prices vary wildly from pharmacy to pharmacy, even in the same region.

A new Consumer Reports survey of 1,200 adults on prescription medication found 22 percent — which would translate into about 27 million Americans — saw a price hike for at least one drug. For one in three of those consumers, the hike cost them at least $50 extra per month.

That's why shopping around can really pay for consumers, many of whom don't even realize how much they can save.

"When we look at retail prices across the country we see — for the same drug, for the same dose, for the same quantity, everything the same — incredible price differences even within the same zip code," Gill said.

"It can be up to 10 times bigger," Gill said.

Read more: Want cheaper prescription drugs? You better shop around | Euronews

Tourism: Travel trends for 2017: City - Sand - Sea

Dutch Beach: sometimes the beach is closer than you think

Where to go on holiday in 2017? To help potential customers decide, the travel companies have already got their catalogues out. And most agree that safety will again be a top priority among holiday-makers in 2017.

The facts and figures of the past months give the tourism industry cause for optimism: the demand for holiday offerings continues unabated - in spite of the lingering threat of terrorism. The UNWTO World Tourism barometer indicated an increase of 1.6 percent in overnight stays within Europe for the turbulent year 2016. So European tourism is still growing, even if no longer as rapidly as in previous years. And safety still ranks as the top selling point.

Spain and Portugal were last year’s most popular destinations and look set to top the list for 2017, as well. Travel companies are expanding their hotel capacities wherever they can.  Tui, the world’s largest tour operator, has acquired a good 20 percent more hotels on the Canary Islands alone. FTI has taken on 75 new hotels, and Alltours a full 100. But the beach capacity remains the same. Will vacationers find a spot to spread their towels on such overcrowded stretches of sand? In any case, they’ll have to splash out more cash for their summer vacation in Spain than in previous years. Prices are going up, as well.

Turkey registered 33-percent fewer tourists in 2016. Whether the sector has any real chance exists to recover from such a steep drop remains to be seen. The tour operators haven’t started cutting hotel capacity just yet, but they’ve slashed the prices: Tui by five percent, Thomas Cook and Neckermann by eight percent. The hotels offer the same high quality for less money. But will such a bargain be enough to counter holiday-makers’ fears in 2017? 
 
Read more: Travel trends for 2017: City - Sand - Sea | DW Travel | DW.COM | 06.01.2017

Oil: Will Cheap Oil Kill Global Stability ? "No it won't say experts-Yes it will says Wall Street PR on steroids" - by Judy Dempsey

Kris Bledowski, Director of economic studies at the Manufacturers Alliance for Productivity and Innovation notes:

"The answer depends on how “stability” is defined. In political terms, one could see some instability creep in or deepen in countries where oil plays a disproportionately large fiscal role.

Yet this impact would be felt locally rather than globally, andmostly in countries with already-weak polities. Venezuela, Nigeria, or parts of the Middle East come to mind. It’s less likely  that potential conflicts could spill over outside domestic or localtheaters.

The economic impact has already been felt the world over. In the United States, mining activity has depressed industrial output, while in Canada the entire economy plunged into recession in 2015 as a result of sharply lower oil prices.

At the same time, income losses are being at least partly offset by gains on the consumer end. Shifts in relative prices of major inputs or outputs occur all the time,and the world economy is resilient enough to absorb them. Overall, oil and its derivatives make up a small and declining share of unit energy costs.

If global investment flows are more unpredictable, currencies more volatile, and changes in income more pronounced, other factors should be taken into account as well. Among them are differences in monetary policies (in the United States and the EU), private debt levels (in Brazil and China), and economic governance (in Russia and Saudi Arabia).

Ian Bremmer, President and founder of Eurasia Group says: 
"Did Mikhail Gorbachev’s reforms kill Soviet stability? No. They hastened the melting of frozen instability. That’s the impact of cheap oil on the Middle East, in particular the Sunni Arab petrostates and the governments that rely on their largesse.

There’s already little domestic legitimacy keeping these regimes in place. The United States has little desire toact as the region’s policeman, and nobody else is going to pick up the baton.

Communication technologies allow disenchanted young men to more easily mobilize.

And there are scant few social, economic, and political reform efforts among the governments themselves; security solutions don’t address the underlying problems. Cheap oil makes those conflicts grow sharper. And faster."

Jan Cienski, Energy and security editor at POLITICO says:
"No, cheap oil won’t kill global stability—infact, it will bolster it. That doesn’t mean low oil prices aren’t terrible news for a host of countries like Russia, Saudi Arabia, Venezuela, Angola, and other emerging markets that have built their budgets on oil exports. But as their revenues shrink, their largely autocratic rulers will have to focus more on keeping their people from rebelling over budget cuts and less on causing trouble abroad.

No, cheap oil won’t kill global stability—in fact, it will bolster it. That doesn’t mean low oil prices aren’t terrible news for a host of countries like Russia, Saudi Arabia, Venezuela, Angola, and other emerging markets that have built their budgets on oil exports.

But as their revenues shrink, their largely autocratic rulers will have to focus more on keeping their people from rebelling over budget cuts and less on causing trouble abroad."

Deborah Gordon, Director of Carnegie’s Energy and Climate Program notes: "mighty global omnipotence is often attributed to oil. But it’s unclear whether low (or high) oil prices themselves can be squarely blamed for growing global instability. Increasing oil market volatility, however, could prove to be a stronger destabilizing force.

If oil prices continue to swing wildly back and forth in the years ahead, this could confound economic, technological, and geopolitical fundamentals."

Note EU-Digest: Wall Street and the financial Industry seem to be the only ones who are saying that lower oil prices will contribute to Global Economic and Political Instability , mainly because it hurts their energy investments and market portfolio's . The drop in oil prices, however, has been very beneficial  to consumers and the the economy in general.

EU-Digest

Global Oil Production: Double Dip seems to have started as prices drop

Oil Exploration

OILPrice Intelligence reports that the double dip looks to be on. After nearly two months of moderate price gains for crude oil, by mid-March oil is swooning once again. Brent is showing a bit of resilience, but the WTI benchmark – which is the major marker for North American crude – dropped to its lowest level in six years. Producers may have thought they were nearly out of the woods, but stubborn levels of production from U.S. shale fields have prevented a rally. Even worse (for drillers) is the fact that oil storage tanks are starting to fill up. Storage at Cushing, Oklahoma is two-thirds full, and hedge funds and major investors are selling off oil contracts, betting that prices are heading south.

While the oil storage story is real – average storage levels nationwide (USA) are up to 60%, a big jump from the 48% seen a year ago – it may have been played up too much in the media. Many refineries are taken offline in the spring for maintenance, which forces drillers to pump crude into storage for several weeks. Additionally, U.S. consumers are starting to use more gasoline because of low prices, and the extra demand may soak up some of the glut. Finally, production, stubborn as it is, may soon finally begin to dip. Fresh data from North Dakota shows that may already be happening. In other words, the weekly storage build may be unsustainably high.

Nevertheless, the selloff is underway. That is providing an interesting opportunity for the U.S. government, which is set to purchase 5 million barrels for the strategic petroleum reserve (SPR). In March 2014, the U.S. government sold off 5 million barrels ostensibly for a “test sale,” but was no doubt at least in part motivated by the fact that oil prices surpassed $100 per barrel. However, by law, the U.S. Department of Energy is required to replenish that sale within 12 months. With the deadline approaching, the DOE has announced plans to buy up 5 million barrels to put back into the SPR. The U.S. taxpayer is about to benefit from extraordinary timing. With prices now half of what they were 12 months ago, the government will be able to bring the SPR back to up to its proper level at half the price.

Low oil prices are good for the government, but not so good for the oil majors. Italian oil giant Eni (NYSE: ENI) became the first of the oil multinationals to slash its dividend due to low prices and also moved to suspend its share buy-back plan. Eni announced plans to pay 0.8 euros per share rather than the 1.12 euros it paid out in 2014. The move was not taken well by investors – the company’s stock tanked by nearly 5% on the announcement. Still, CEO Claudio Descalzi put on a brave face, claiming that he was “building a more robust Eni capable of facing a period of lower oil prices.” The dividend has long been prioritized by the oil majors, needing to be protected at all costs. Many of them have opted for dramatic cuts to capital spending rather than touch their dividend policies, even if that threatens future production rates. High dividends have made major oil companies highly attractive investment vehicles, allowing companies to obtain a lower cost of capital for drilling plans. Eni has bucked the trend, arguing that it will be more resilient as a result of the dividend cut. Descalzi insists the company will “be strong” if prices remain at $60 per barrel or above. It remains to be seen how long oil prices stay depressed, and whether or not other oil majors can avoid coming to the same conclusion as Eni.

OPEC released its monthly oil market report on March 16, in which it argued that North American shale will face a contraction later this year. However, the oil cartel also saw some production declines for the month, as Libya, Iraq, and Nigeria continue to struggle with violence and low oil prices. Libya, in particular, is facing a crisis. Spain raised the prospect of a European Union embargo on Libyan oil if the country’s two political factions did not make headway on peace. Cutting off Libya’s only economic lifeline almost certainly would not bring a swift end to political impasse in Libya, but the EU is clearly becoming impatient with the ongoing violence just across the Mediterranean.

Russian President Vladimir Putin reemerged from a 10-day absence that fueled many-a-rumor – speculation ranged from a palace coup, to a secret birth of a child, even to some wondering whether the Russian President met an early demise. The Kremlin offered no explanation, but Putin appeared to be just fine. Despite his seemingly good health, the Russian economy continues to buckle under the weight of low oil prices. And that, according to Bloomberg, has Putin increasingly angry at a once close ally: Rosneft head Igor Sechin. Putin is reportedly blaming Sechin for rising debt at the state-owned oil firm, perhaps stemming from the purchase of TNK-BP in 2013. Also, Sechin’s role in borrowing billions of rubles that sent the currency plummeting in December 2014 has raised the ire of the Russian President. There are rumors that Sechin could be on his way out, but those reports are unconfirmed. Nevertheless, the fraying of the relationship suggests low oil prices are taking a toll on Putin’s inner circle.

EU-Digest