Here are some facts regarding Fukushima, as soberly reported by Popular Mechanics. In a nutshell: Yes, this is a serious situation. No, we don’t know exactly how serious.
I expect that nuclear engineers the world over will be pouring over the incident reports from Japan so they can figure out what went wrong (besides the obvious, of course) and devise new and improved safeguards. Should we allow Fukushima to deter us from incorporating nuclear power into our plans for U.S. energy independence? Even Obama is smart enough to say no — at least for the moment.