2. Yes, you need to worry about the water waste. True story:
In the early 70s, Shell started pumping brine water down a disposal well a few miles from my parent's home in the country outside Odessa. My folks had a 200' water well drilled in 1957 that had provided all their needs with good clean water.
In 1978, lawns started dying, and trees started dying all over the area, including my parents' house. One of the folks who lived a couple of miles away was Mac Boring, the owner of Dixilyn Drilling, who had a beautiful home with a small lake out front with swans swimming in it. His landscaping began dying as well.
He advised the RRC that the Shell well there must be leaking. Apparently, the action taken was that the RRC asked Shell, and they said no. That was all the state would so in 1978, so Boring took the lead and thousands joined the Ector County Utility District to lay water lines, buy meters, and pay for water from the city of Odessa at 150% the city rate.
So now all the folks out there pay the highest rate for water, they pay taxes to maintain the district, and the groundwater is still ruined. If even a Texas oilman can do nothing against a large company and their waste, no one can.
Areas that chose not to join the district are now empty and abandoned.
Fracking is brine disposal on steroids, forcing worse than salt into the ground at unknown depths and unknown results. Oh, they know how deep the line is that they pump. Ask for a real number on how far the fracking fluids really go. Nobody knows.
Dangerous, reckless, profitable. About all you need to know about why it's popular with companies and bad for people.