Answer: The affinity for oxygen will be lowered by a lot (essentially cannot bind anymore oxygen). This is due to the fact that the heme group got exposed and has reacted with oxygen to form Fe(III). The heme must be buried within the hemoglobin molecule away from the aqueous environment of the blood to bind oxygen efficiently. Solution Answer: The affinity for oxygen will be lowered by a lot (essentially cannot bind anymore oxygen). This is due to the fact that the heme group got exposed and has reacted with oxygen to form Fe(III). The heme must be buried within the hemoglobin molecule away from the aqueous environment of the blood to bind oxygen efficiently..