I might be concerned about the milk because it has been modified, but If the cow is completely healthy, than the milk should be fine, too. My only concerns would be if the genetic modifying might effect the milk in a strange way.
Sea levels would rise.
Increase in temperature (for example due to global warming) increases the rate of melting of polar ice.
Consequently, the sea levels of the polar ecosystem would increase.
In addition, the melting of the ice caps also increases the temperature of the water in the oceans. As a result, the water expands which also increases the sea levels.
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Im not really sure about the water, other than the trees wouldn't be absorbing it so there would be extra? But a huge amount of trees like that produce a lot of oxygen, so there would not be less oxygen in the environment. Hope this helps!