But the Romney plan sees regulations as a tool to promote the safe exploration of energy and hold explorers accountable.

FORBES: Which Candidate's Energy Plan is Better for America?

Apart from the direct expenses in the clean up and compensation for those affected, the biggest costs could be greater federal and regulatory scrutiny at a time when the industry is collectively trying to project the image that oil and gas exploration is environmentally safe.

FORBES: Exxon Avoids Major Fallout From Yellowstone River Spill So Far

But the Australian-based exploration company Tamboran insists the process is safe.

BBC: Drilling for gas