New video on oil leak

Watch CBS News Videos Online

More video of oil spewing from the damaged oil well a mile underwater in the Gulf of Mexico. Meanwhile, BP says that the leak will have only a "very modest" environmental impact. Here's what CEO Tony Hayward told Sky News (via AFP):

"I think the environmental impact of this disaster is likely to have been very, very modest. It is impossible to say and we will mount, as part of the aftermath, a very detailed environmental assessment. But everything we can see at the moment suggests that the overall environmental impact will be very, very modest."

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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