This paper takes a deep look at the costs related to process safety. It is not confined to the costs of trips and alarms, compliance with regulations and worker training, but also takes into consideration many aspects considered standard process design practice. In reality, these practices have evolved due to process safety considerations, for example, use of a pressure vessel as a reactor instead of an open vat. The scenario considered is a simple process of making salt solution (sodium chloride dissolved in hydrogen monoxide, H2O). It is carried out in open vats. New tests indicate that hydrogen monoxide is indeed very hazardous, since it is made up of extremely hazardous hydrogen and a very active supporter of fire, oxygen. Hence, the company has to comply with all the applicable process safety regulations and modify the plant accordingly. Factors that affect the cost due to the hazardous nature of operation have been listed. While the exact cost would vary from one plant to another, this cost could, according to our thinking, amount up to one-third to one-half, or even more, of the capital and operating costs of the new plant handling the hazardous operations. The vision of the process industry globally is zero hazards and zero accidents. The costs of running the hazardous process mentioned in this paper would hopefully drive the industry to consider inherently safer systems, green chemistry, process intensification, and the like. Just imagine if process plants, at some later date, cost only one-third to one-half of their current counterparts, and are significantly safer too! How much cheaper would the cost of living become, since we use chemicals in one form or the other, throughout the day? Corporate profits would increase and process-related liabilities would (almost) disappear. The regulations too would be reduced to just a few, as would the number of regulators. Successful application of inherently safer concepts in the process industry will motivate other accident-prone industries such as construction, mining and transport. It may even decrease the frequency of medical errors by encouraging development of inherently safer medical equipment, techniques, and procedures.