Oklahoma Earthquakes Are a National Security Threat
bloomberg.com
bloomberg.com
This is about disposal of waste water from watered-out fields, not about fracking. The New Yorker correctly points out less than 10% of the water going down these disposal wells is from fracking operations. So why does Bloomberg (and not just Bloomberg) keep raising the fracking bogey-man?
When you get oil and gas out of the ground, a lot of salt water comes with it. Sometimes, especially in Oklahoma, there can be 10 times as much water as oil. This "produced water" is used for injection into other wells to displace oil, but there's enough left over to require wastewater injection wells for its disposal.
http://energyindepth.org/wp-content/uploads/2015/02/Wastewat...
https://en.wikipedia.org/wiki/Strategic_Petroleum_Reserve_%2...
Actually, Cushing storage is not that much. Unlike SPR, it is mostly short term storage in between transit. Cushing is a transfer point between different pipelines that connect at Cushing which also later became a delivery point for oil and gas futures traded in futures market.
US imports are about 1/4 of consumption (http://www.eia.gov/tools/faqs/faq.cfm?id=32&t=6), so total reserves (including commercial storage) should be around 25 days.
As to Cushing, from both the article and what you say I would be more concerned about losing those pipes than of losing the oil stored there.
We use a lot of stuff.
[1] http://www.ers.usda.gov/data-products/chart-gallery/detail.a...
I've read the strategic reserves are more a political play, and a impressive engineering feat, but actually drawing them down doesn't provide nearly the economic value versus just the fact we have them.
“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” ― Upton Sinclair
[1] http://gizmodo.com/the-annual-love-and-sex-with-robots-confe...
Oil is also distributed all over the earth at various costs to extract, so oil would rise in price as a commodity decades before it actually runs out. It would gradually price itself out of different uses.