
Well, scientists would have to be resourceful to even come close to anything like that.
A black hole is nothing but an object with immense density. One can actually create a black hole from a few atoms - given that these atoms are pressed sufficiently close to each other.
Creating such a black hole would have no bad effects at all: the mass is still the mass of the few atoms that were compressed together so the gravity that awakens from such a black hole would be miniscule. Such a small black hole would also evaporate very quickly - in a fraction of a second. (Black holes radiate because they have a temperature. Given enough time, a black hole can evaporate completely - a smaller black hole evaporates a lot faster.)
It would be a great step forward if physicists succeeded in creating a very small black hole - the result could confirm that black holes really exist (right now we don't know it for a fact, we just have predictions that seem to be all right.) In turn, this would confirm (again) that general relativity is correct. It would also confirm parts of quantum electrodynamics.
The fear of black holes comes from the stories regarding their gravity, but gravity is strong only for large masses - the larger the mass, the greater its gravity is. (Or the more it distorts spacetime.) If you move close enough to a black hole (crossing the event horizon), you would be torn apart and sucked down. But if you kept the distance, nothing would happen to you. Of course, keeping the distance is more difficult the closer you are.
What do you think would happen to Earth if you suddenly replaced the Sun with a black hole of equal mass?
Answer:
Spoiler
Nothing. It would be dark, of course, and cold, so it wouldn't be very comfortable for life, but nothing else would happen. Since the mass of our black hole is equal to the mass of the Sun, it'd generate the same gravity at the same distance. So Earth (and Moon, Mars, Jupiter, etc.) would keep moving in their orbit exactly as before.
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On the other hand, if you'd replace the Sun with a black hole of equal size, that would be a completely different story - the mass of such a black hole would be enormous - maybe thousands of Suns (this is just a guess, I didn't actually calculate it.)
The problem with small black holes (like the ones they're trying to create at the LHC) is not really controlling but creating them. Such a tiny black hole could be controlled quite easily, since its mass is very small, but achieving the necessary density is a monumental task and requires a lot of energy.