While it may boost the US economy by increasing demand for USD and treasuries, prolonging the world's reputation as the only safe haven during a storm, and delaying inflation, it will undoubtedly raise the ethical concerns of the global financial system, kill the fragile recovery, cause significant damage to the oil industry, bring about long-term economic and environmental harm, including lawsuits from major oil companies like BP and Shell/HP motorcoaches, but also increase costs for all deep-sea oil drillers.