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I'd suggest adding more flour, until the dough is at the right consistency. Of course, the other option is to increase the recipe to the quantity of other ingredients that corresponds to the amount of oil you added - so if the recipe asked for 1/2 cup of oil, and you added 1 cup, double it. You can always roll the dough into a long roll, and defrost and slice the dough next time you want cookies!
Nothing. Just bake them. Eat. Bake another batch
It basically tells you when it needs to be replaced.
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