cost is going to be going up just a tad . . .
We are spending the equivalent of innumerable billions of dollars per life saved in our radioactive waste management programs. As another example from the nuclear industry, consider reactor safety. Since the mid-1970's, the Nuclear Regulatory Commission (NRC) has been tightening regulations to reduce the risks of reactor accidents. This program of "regulatory ratcheting" has increased the cost of a nuclear power plant by a factor of 4-5 over and above inflation, an increased cost per plant of well over $2 billion. How many lives does
NRC hope to save at this cost? According to its own studies (5), plants built prior to this regulatory ratcheting could be expected to cause an average of 0.8 deaths over their operating life.
Thus, according to their own calculations, NRC is knowingly spending ($2 billion/0.8=) $2.5 billion per life saved. An ironic aspect of these NRC reactor safety-upgrading activities is that the cost increases they have caused have forced utilities to build coal burning power plants instead of nuclear plants. A typical estimate (5) is that the air pollution from 1 GWe of coal burning plants kills 25 people per year, or about 1000 people over its operating lifetime. Considering the fact that the nuclear plant is expected to kill 0.8 according to NRC (5) (or 100 according to the anti-nuclear activist organization, Union of Concerned Scientists (7)), that means that
every time a coal burning plant is built instead of a nuclear plant, something like 1000 extra people are condemned to an early death. As a result of this NRC program of regulatory ratcheting, about 100 GWe of coal burning plants will eventually be built instead of nuclear plants, causing about 100,000 needless deaths. The 60+ nuclear plants in the USA that will eventually be completed have cost an average of at least $1.6 billion extra each, for a total cost of 100 billion in an effort to save these (60x0.8=) 50 lives. If this money were spent, instead, on cancer searching and highway safety measures, it could have saved something approaching a million lives.
http://www.cab.cnea.gov.ar/difusion/Cohen.html