No O2 sensor

[oldtimer]

After long trouble shoot and not taking the O2 sensor as the cost for the unstable idle because I just replaced it.  today I managed to extract the code and it lead to the O2 sensor.  Since the unstable idle and the engine light keep flashing driving me nuts.  I disconnect the O2 sensor till I can replace it.  

What affect does it have running with the O2 sensor disconnected? How lond can I run without it?

[Cobra Jet]

The O2 determines the engine's air/fuel ratio whether it will be a rich or lean fuel mixture... and it will affect fuel consumption or fuel economy.

http://en.wikipedia.org/wiki/Oxygen_sensor

If the car was originally equipped with one and it's removed or disconnected, doing so could cause premature internal engine wear especially on bearings & cylinder walls if the vehicle is dumping fuel (rich condition)...  Also, if you still have catalytic converters and have disconnected the O2 (or removed it), you could cause damages to the converters as well.