It's no secret that the melting of Arctic ice is being blamed on climate change, however now that less than one meter (three feet) of winter sea ice surrounds a Norwegian Arctic island, oil companies believe the obstacle that formerly prevented exploration in the area has been removed. The isce around Hopen insland has thinned out more than 16 inches since the 1960s, says the Norwegian Polar Institute and scientists believe the area once considered inhospitable, may show new potential.

"Since the year 2000 there have been no observations of ice thicker than one meter at Hopen, and the local air and water temperature has also risen," the Institute said in a statement.

Now that oil has hit record highs at over $100 per barrel, oil and gas companies are searching for new reserves and because ice levels are at a record low in the area, it is seen as an ideal area to explore. The full results of the study will be published in the Geophysical Research Letters.

Does anyone else find it incredibly ironic that ice shrinkage in the Arctic due to climate change is now paving the way for oil and gas exploration, which is considered by some scientists to be a major contributor to global warming? One could accurately label this a vicious circle.

» Reuters Environment