China Syndrome in Japan? Nuclear Power Plant Could be on Verge of Meltdown

Among the rolling disasters set in motion by Japan's major earthquake, at least one of that country's nuclear power plants is in danger of melting down.

Japan's nuclear reactors were shut down in the wake of the earthquake and subsequent tsunami, but officials say the emergency cooling system at the Fukushima plant is proving "problematic."

With the facility's internal radiation levels hitting more than 1,000 times above the limit, technicians are scrambling to cool the core. Small releases of radioactive gas reportedly have been vented in the process. More appear likely.

Critics say Japan's experience ought to be a huge red flag for future projects, including Florida's, and is a potential black eye for the nuclear power industry, which bills itself as safe and reliable. Of course, the industry's initial claim that it would produce electricity "too cheap to meter" was discounted decades ago.

FYI: The Obama administration has asked Congress for $36 billion in new loan guarantees to build more commercial reactors.