Out of sight out of mind. I'm not sure where in the ocean they are planning to dump the many millions of tons of waste at all the various sites in Asian and Philippines, but I have heard there is a lot of sensitive marine life around those parts. There is also some very deep water (more than 7km deep) and they have no idea of what could be down there and thus what harm they may do, as until recently no-one has been that deep. The waste also disperses and spreads out over a very wide area before it even reaches the bottom.
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