Verification of environmental costs in shale oil and gas development is meaningful for government to make appropriate environmental policies, for petroleum companies to estimate development benefits and to study environment-friendly development technologies. This paper, based on related references and some research achievements regarding environmental cost, studies its components, confirmation basis, confirmation standards, and formation conditions combined with its impacts on environment, and discusses subjects setting, capitalization and expenses accounting process. Environmental cost confirmation in shale oil and gas development is complicated due to its diversified involvements, vast contents and long-term and hidden impacts on environment, which requires governmental guidelines.