Here's why the shale industry still isn't profitable

Reuters Staff As costs rise, drillers are pursuing "irrational production." Hype and publicized efficiency gains are overstated. Not all companies are in the red. Echoing the criticism oftoo much hypesurrounding U.S. shale from the Saudi oil minister last week, a new report finds that shale drilling is still largely not profitable. Not only that, but costs are on the rise and drillers are pursuing “irrational production.” Riyadh-based Al Rajhi Capitaldug into the financialsof a long list of ...