We could store it in a mountain. We are already building one, but hundreds of groups are working to prevent it from opening.
We could recycle it. It's illegal in the USA, to the delight of both the uranium industry and environmentalists. With much less spent fuel around, there would be less to stoke fear with.
We could transmute it. That's still expensive and wasteful, but it can be done.
We could even put back the spent uranium where we found it, only with less radioactivity.
Storing it where we found it makes the most intuitive sense to me, though I may be wrong about that. In the future, recycling will become a much more efficient way to deal with it. "The future", in this case, means "as soon as we decide to just do it."
These technologies actually are well-developed ("
ready for prime time"). The problem, which we see again and again in energy development of all kinds, is implementation, financing, investment, and building the equipment we need.
None the less, this is one energy issue we don't really have to be in a hurry to solve. The total amount of the material is a small fraction of all energy-production waste which we currently just dump. We can, and do, store nuclear waste safely.
This isn't to say that we should be lax about it, or any aspect of nuclear energy. It's just that we have been gulled into believing that nuclear waste is some special class of material that brings instant death -- and that's just not true. Most nuclear "waste" has had
nearly all of its radioactivity exhausted from it in the process of generating power. Not much is left. And radioactivity is not some form of black magic that bears the evil juju.
Incidentally -- and I don't want to be persnickety here -- water can't be irradiated in the way you described it. Water doesn't "pick up" radiation the way iron can be magnetized. Radioactivity comes from the decay of unstable atoms' nuclei. It can not be "caught" except under very particular cirumstances -- usually by another unstable isotope. There is so-called "heavy water", deuterium and tritium, present in nature, but they are difficult to make. It's the
effects of radiation that count. If you expose water to enough radiation, you can kill pathogens in it, but the water does not become radioactive. The water used by a reactor for cooling isn't radioactive unless there has been a spill of radioactive material into it.
Don't take my word for any of this. Since nuclear energy will be getting more attention as we come to grips with peak oil and climate instability, there will be more opportunities to read up on it. It is not too difficult to stay away from the pro- and anti- groups alike for your basic information -- the
Energy Information Administration is a good place to start, as is Wikipedia.
--p!