ABSTRACT
The costs of adhering to the benchmark system through at least the end of the century would be low, perhaps even negative. From the early days of the nuclear era, the main argument for recycling uranium and plutonium from spent fuel in light-water reactors and for introducing the plutonium breeder as soon as possible has been that uranium was thought to be scarce, and that efficiency in its use should therefore be maximized. Changes have also been taking place on the demand side. Estimates of uranium demand are derived from the estimates of installed nuclear plants capacity, and these projections have been shrinking year by year since 1970. In 1970, the US The evidence strongly supports the conclusion that uranium resources exist to support the nuclear industry well into the twenty-first century without dependence on the plutonium breeder. Estimates that there is plenty of low-cost uranium may be wrong; besides, there is the question of security of supply.
