Major problem, correct sentiment - but before taxing, I'd say to remove subsidies, sunset old legal entitlements (often based on now-obvious counterfactuals), and look for ways to kill off "the commons" problem with wells. If you are mining gold, coal, etc. - then it's illegal to dig your mine under your neighbor's property and help yourself to the wealth there. Same if you engineer a landslide, which moves your neighbor's gold or coal onto your property. Vs. with water wells...