Regulate externalities sounds like a nice way of phrasing what would amount to authoritarianism.

It seems reasonable to want a government to help ensure externalities aren't being ignored in prices, but not to regulate them by saying how much and what types of things people can use. I don't want my government allocated a set amount of energy I use, for example, but I would be fine with them ensuring prices accurately reflect the true cost.

Ironically they often do the opposite, subsidizing energy and food costs which make things cheaper and hide externalities.