A Japanese strategic uranium reserve: A safe and economic alternative to plutonium

Japan could acquire a 50?year reserve of low?enriched uranium fuel for its nuclear power plants at about half the cost of its plutonium program, providing energy security and major economic and political benefits. Fuel for light?water reactors made with plutonium costs four to eight times as much as conventional uranium fuel. Japan can develop a Strategic Uranium Reserve to address its energy security concerns and eliminate any need to proceed now with plutonium recycling with its many attendant costs and nuclear proliferation risks. Such a reserve could provide as much as a 50?year, energy?secure timeframe within which Japan could develop the commercial breeder reactor later on, if necessary. A discounted cash flow analysis demonstrates that, by developing a 50?year uranium reserve instead of a commercial plutonium and breeder program, Japan could save up to $22.7 billion. Savings would be greater (up to $38.4 billion) if an enriched?uranium reserve smaller than the extreme 50?year example or a reserve of natural uranium were acquired. The reserve would also make a major contribution to keeping the Asia?Pacific region free of weapons?usable nuclear materials.

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