I am not in error as you can not get something from nothing as you imply.
In fact since we use up some of the nuclear energy in the reactor the waste should be less energetic than the fuel.
But you are correct that the waste products are more radioactive than the fuel, its just that there is a lot less volume of waste produced than the volume of material used to produce them.
So overall the amount of radioactivity remains the same.
Dave R.
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