An industry which could create a few hundred thousand jobs, transmute existing long-lived nuclear waste to short-lived stuff, generate power with minimum CO2, etc. Total R&D cost, including prototype at full commercial scale, under $10B. A proton accelerator with ten times the power and same energy as the Spallation Neutron Source in Oak Ridge can be used to drive a sub-critical nuclear power system or to transmute existing nuclear waste or both. There is basic R&D and a lot of engineering needed. R&D and prototype cost would be less than ITER, the International Tokamak Experimental Reactor (fusion). Lots of messy politics because of concern about nuclear weapons proliferation, however. And NIMBY. No chance of an uncontrolled reaction, since turning off the proton beam stops the reaction in under a microsecond (speed of light from source to target).
http://scholar.google.com/scholar?hl=en&q=rubbia+accelerator+transmutation+nuclear+waste&btnG=Search/
Carlo Rubbia proposed this around 1990, six years after his Nobel prize. http://en.wikipedia.org/wiki/Carlo_Rubbia/
https://accelconf.web.cern.ch/accelconf/e94/PDF/EPAC1994_0270.PDF/
A High Intensity Accelerator for driving the energy applifier for nuclear energy production. C. Rubbia et al.
Another citation: http://arjournals.annualreviews.org/doi/abs/10.1146%2Fannurev.nucl.48.1.505/
ACCELERATOR-DRIVEN SYSTEMS FOR NUCLEAR WASTE TRANSMUTATION (1998 review)
Charles D. Bowman
The ADNA Corporation, Accelerator-Driven Neutron Applications, Los Alamos, New Mexico 87544; e-mail: cbowman@roadrunner.com
Abstract The renewed interest since 1990 in accelerator-driven subcritical systems for transmutation of commercial nuclear waste has evolved to focus on the issue of whether fast- or thermal-spectrum systems offer greater promise. This review addresses the issue by comparing the performance of the more completely developed thermal- and fast-spectrum designs. Substantial design information is included to allow an assessment of the viability of the systems compared. The performance criteria considered most important are (a) the rapidity of reduction of the current inventory of plutonium and minor actinide from commercial spent fuel, (b) the cost, and (c) the complexity. The liquid-fueled thermal spectrum appears to offer major advantages over the solid-fueled fast-spectrum system, making waste reduction possible with about half the capital requirement on a substantially shorter time scale and with smaller separations requirements.