In answer the question about how does effluent affect C02, if you want chapter and verse you'd need to ask an environmental scientist rather than a trench rat like myself, but my understanding is that the breakdown of organic materials releases it. The muck that gets spread on fields has generally been "maturing" for a while and so as well as smelling pretty ripe, is giving off a lot of gas, which is another good reason not to stand on the lip of a slurry pit!
Thinking on, it was warm and dry over that weekend and the muck spread baked on rather than soaked in, but prior to that the local farmers had been cutting silage in any reasonably dry window they could, and generally manuring straight after. With all the rain we've had, I can imagine this is washing through the topsoil more than usual, and so may be getting into the underground drainage before it's fully broken down. I have heard anecdotes that the air at Knotlow has significantly improved since the farm ceased dairy production with its attendant slurry washing around, perhaps someone could confirm if this is the case?