Earlier quoted context omitted.
Millions of tonnes of any waste released into the environment, no matter how "harmless", are too much. Humanity needs to tackle its waste problem, and that soon, or we are going to drown our kids in trash. Or, given that nitrates (which aren't that toxic per se) are the 3rd position in weight are perfect food for algae, we're drowning them in algae and without fish. Not to mention that much of the stuff that gets rel…
This is a terrible idea. People have repeatedly shown they are willing to give up very little to address environmental problems. That makes it even more important that when we use limited social capital to address a problem, it's the most important problem that can be addressed.
Let an actual free and fair market solve it. When externalities have to be included in pricings (be it insurance premiums for superfund cleanup, earmarked money in trusts for cleanup, or simply preventing emissions in the first place) instead of having them shouldered by society, the market will by itself weed out companies doing excessive environmental damage.