For every action is an equal reaction. The oil and gas from the Eagle Ford Shale isn't free by any stretch of the imagination.
In this case, the negative impact will probably be cosmetic and nothing more. Current disposal well construction techniques are as precise and sophistocated as the hydraulic fracturing itself. Yes, spills do occur but bunkers will be in place to catch the spillage. Yes, bright lights will burn through the night, every night, and trucks will run 24/7.
One real shame is that the water used in fracking, when disposed of in this manner, is removed from the hydrologic cycle forever. Recycling techniques have recently come into play, but it's a bit expensive compared to simply disposing of it. Fountain Quail has set up shop in Kenedy to recycle frack water, but it takes fuel and labor dollars to get it there. Some drilling companies, recognizing the fact that more water is being drawn from aquifers than is being replenished, are spending the few extra dollars to recycle instead of dispose of the water.
Regarding earthquakes, apparently the possibility of an earthquake depends upon whether the injection will be on top of or close to a fault.
TCEQ and RRC will not consider cosmetic effects.
So, the winds of change are blowing again at hurricane force. At least Mrs. Parenica didn't build her dream home there before this occurrence. And, one day, some day perhaps 20 years from now, the "play" will be played out and only the scars will remain.