Tele interview: Bohai oil spill damages & ways to minimize losses

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For more on the oil spill, we're joined on the phone by Jay Hakes, former head of the Energy Information Administration of the US Department of Energy.

Q1: According to China's State Oceanic Administration, the total spilled amount has reached 32 hundred barrels. How serious is this and how much of an impact could it have environmentally?

Q2: What could and should ConocoPhillips do to minimize their loss and solve the problem?