There was a HUGE discussion about this on SF. Short story, the Charcoal canster is an emissions device which accumulates fuel vapor until the engine is ready for it, then the vapor is mixed with fresh air and drawn into the engine... Nothing bad about that. Letting your fuel evaorate and vent to the atmosphere is just typically ignorance at it's best.
As for why people do it?
A) They have no clue how it really functions.
B) Their buddy said it was "BAD".
C) They have more than enough money that they don't need to worry about paying for fuel that'll never get used.
D) They're evil.
If anything pickup a smaller charcoal canister and relocate it to the inside of the tire well.
FYI - Evaporative emissions contain far more toxins than uncatalized exhaust!
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