Recycling spent fuel - the technical word is reprocessing - is one way to make the key ingredient of a nuclear bomb, enriched uranium. In 1977, Jimmy Carter, the only nuclear engineer ever to occupy the White House, banned reprocessing in the US in favor of a so-called once-through fuel cycle. Four decades later, more than a dozen countries reprocess or enrich uranium, including North Korea and Iran. At this point, hanging onto spent fuel from US reactors does little good abroad and real mischief at home.
The Bush administration has reopened the door with modest funding to resume research into the nuclear fuel cycle. The president himself has floated a proposal to provide all comers with a guaranteed supply of reactor fuel in exchange for a promise not to reprocess spent fuel themselves. Other proposals would create a global nuclear fuel company, possibly under the auspices of the International Atomic Energy Agency. This company would collect, reprocess, and distribute fuel to every nation in the world, thus keeping potential bomb fixings out of circulation.
In the short term, reprocessing would maximize resources and minimize the problem of how to dispose of radioactive waste. In fact, it would eliminate most of the waste from nuclear power production. Over decades, it could also ease pressure on uranium supplies. The world's existing reserves are generally reckoned sufficient to withstand 50 years of rapid nuclear expansion without a significant price increase. In a pinch, there's always the ocean, whose 4.5 billion tons of dissolved uranium can be extracted today at 5 to 10 times the cost of conventional mining.
Uranium is so cheap today that reprocessing is more about reducing waste than stretching the fuel supply. But advanced breeder reactors, which create more fuel as they generate power, could well be the economically competitive choice - and renewable as well.