According to Daily Tech's Science Blog, the melting of the ice caps could prove very beneficial. First the science- paleoclimatology to be precise:

Recent short-term gains in Arctic ice coverage indicate nothing about the eventual state of the Arctic. Answers to the long-term status of the region lie in the realm of a scientific branch known as paleoclimatology. What does it tell us?

The Earth is currently in the geologic epoch known as the Holocene. This began nearly 12,000 years ago when the last ice age (more precisely, the Weichsal glacial) ended. Temperatures warmed, glaciers began to retreat, and the Arctic began to melt. This began what is called an interglacial: a warmer period between glaciation. We tend to think of the poles as immutable, but geologically speaking, permanent polar ice is a rare phenomenon, comprising less than 10% of history. Icecaps form briefly between interglacials, only to melt as the next one begins -- this time around will be no different. So we know the Arctic will eventually be open water. The only question is how it will affect us.

And now the economics:

What's at stake is nothing less than millions of square miles of territory, with some of the richest resources known. 90 billion barrels of oil and 1,700 trillion cubic feet of natural gas lie in the region. An ice-free Arctic also means access to other mineral resources, and access to rich new fishing grounds. Analysts have hesitated to put a figure on the total worth. But that's not all. Just the ability to safely navigate the region is itself valuable.

First navigated in 1905, the famed Northwest Passage allows ships to cross between the Pacific and Atlantic oceans. Currently this requires a trip through the Panama Canal, a lengthy, expensive voyage that is barred to the largest "post-Panamax" class of ships. The permanent opening of the Northwest Passage will shave thousands of miles off each crossing, saving millions of barrels of diesel fuel annually, boosting trade and cutting shipment costs for a wide variety of imported and exported goods.

Nearly as important, the Northeast Passage is vital for parts of Northern Europe and Russia. First navigated as far back as 1879, a permanent opening will not only reduce shipping costs between Russia and Northern Europe, it will be a boon for thousands of tiny coastal communities that are currently cut off from the outside world for most of each year.

But what about the Polar Bears?

Recent research indicates that the species is significantly older than first thought, about 120,000 years old. This means polar bears have survived at least one interglacial before, and therefore doesn't depend on permanent polar ice.

Almost sounds to good to be true.