No doubt, but entire ecologies will be lost... entire species of plants, animals, sea life could be gone forever, altering the entire life cycle of both oceans and land masses. Fragile areas like the LA wetlands, once destroyed, would never return. There are thousands of fragile ecologies around the globe. If this spill becomes massive enough to circumnavigate the planet, ecological damage could be immense beyond comprehension for generations, if not centuries... perhaps beyond.
The oil will only dissipate after the gushing is stopped, and frankly, I'm losing hope that we have the technology to stop it. Imagine if the well keeps pumping into the oceans for months, or a year, or even longer. The mind boggles at the potential.
It is not a legacy we would wish on our children. Scary, because it's already the largest ecological disaster I've seen, and there simply is no end in sight.
A sad assessment, but a good one.