No, because that's not something that actually happens due to underground storage. The leaks are local, and cause minimal long term harm. They are not "contaminating a city's water supply", that's simply not true.

Its absolutely true, one of my city's primary aquifers is directly under ground. Future underground tanks will not be permitted because they've been leaking into the groundwater, especially if and when they're abandoned because the business failed.

So make failed businesses empty their fuel tanks? Seems like a dumb reason to regulate tanks for active businesses.

Failed businesses don't often fail because they executed things perfectly. When you bankruptcy and shut down, you don't necessarily sell property immediately.

That’s demonstrably false. Google the red hill fuel tanks

A truck slamming into an above-ground tank could easily contaminate a city's water supply, so I'm not sure you've got a valid argument here.