Editor note: Milton Friedman would be 98 this Saturday July 31. (He died on November 16, 2006.) This exchange with Robert Bradley–when Dr. Friedman was 91 years old–is testament to the mental powers of one of the greatest social thinkers of modern time.

Friedman had not met Bradley but was in the habit of actively communicating with scholars until his final illness.

I had heard that the great economist and social thinker Milton Friedman (1912–2006) was a prolific communicator with those who posed worthy questions to him. So when I got interested in mineral resource theory, which would culminate with my 2007 essay, Resourceship: An Austrian Theory of Mineral Resources, I asked Dr. Friedman in August 2003 about his views on the late Julian Simon (1932–98), specifically whether Simon’s work on resources, and his conception of the ultimate resource, merited a Nobel Prize in economics.…

Between the current financial mess and the debate over carbon dioxide emissions controls, there is a lot of talk about regulation these days.  We are told, for example, that the recession would have been prevented if proper regulations had been in place.  While it is true that (by definition) the “right” regulations would have prevented bad and ensured good, it is also true that had an omniscient, omnipotent, omnibenevolent dictator been in charge, the recession would have been avoided as well.  The problem, of course, is that God, being otherwise occupied, didn’t run for President during the last election.

Enacting the right regulations is somewhat simpler than electing an omni-everything being to run the world, but not much.  As evidence, consider the fact that it was a lot of the wrong regulations that got us into this mess in the first place.  …

Part 1 of this series explored the historical context of the U.S. nuclear waste storage policy. Part II and Part III looked at the failed Salt Vault and Yucca Mountain projects, respectively. Part IV reviewed the legal and political fallout from the Yucca Mountain failure.  In this final post, we review the past failed attempts to reprocess nuclear fuel in the U.S. and examine the global state-of-the-art reprocessing plants now operating or under construction.

Reprocessing and Recycling in the U.S.

The reprocessing of nuclear fuel first began in the U.S. in January 1943. The Bismuth Phosphate Precipitation Process was used for recovering macroscopic quantities of plutonium. The REDuction-OXidation (REDOX) process was the first successful solvent extraction process to recover both uranium and plutonium; it was further refined into the Plutonium and URanium EXtraction (PUREX) process, which has become the most common and fully commercialized liquid-liquid extraction process for the treatment of spent nuclear fuel (SNF).…

Part I explored the historical context of the U.S. nuclear waste storage policy, while Part II reviewed the 1960s Salt Vault project.

This post looks at the legislative history of the ill-fated Yucca Mountain repository and the formation of a committee to explore alternative storage sites (again). In Part IV, we will look at some of the legal and political repercussions of Yucca Mountain’s failure.  Finally, in Part V, we explore failed attempts to reprocess nuclear fuel in the U.S. and examine the global state-of-the-art reprocessing plants now operating or under construction.

The Retrievable Surface Storage Facility

The AEC announced plans (circa May/June 1972) to construct an engineered, at-grade Retrievable Surface Storage Facility (RSSF) to be used until a permanent geological repository would be available. The plan was to locate the RSSF at an AEC or federal site in the western U.S.…