From BBC News website:

What is remarkable in this graph is to look at the arctic see areas differences between 1979-2000 (the yellow line) averages and the last three record years (2007, 2008 and 2005):
This can probably be explained by the thickness of ice extents which is not fully recovering year over year and higher summer temperatures than averages.
The ripple effect of ice-free arctic summers is rising sea temperatures at increasing pace as the sea absorbs much more heat from the sun than ice which reflects much of the sun rays back to space. So as ice caps decrease, more heat from the sun is stored in oceans and earth surface.
Higher sea temperatures lead to more water vapor (a greenhouse gas) in the atmosphere, trapping even more heat from the sun.
Higher sea temperatures can store less carbon dioxide (CO2), releasing even more CO2 in the atmosphere.
More CO2 and water vapor in the atmosphere lead to faster melting ice caps.
If this trend continues, it is very easy to understand how we could have ice-free arctic summers in just a few years while having winters arctic ice caps appearing with little change from above.
Global warming is all about ripple effects of multiple factors.
In the short-term most people seem more concerned with high gas prices pressuring the US House of Representatives to lift 27-year old moratorium on for oil drilling in coastal waters.
See also:
Arctic warming much faster than expected.
Ice-free Arctic summers coming fast.
Tags: Global Warming, Ice Caps.
Ellesmere Island has now lost 10 times more shelf ice this summer than scientists predicted on July 30.

Richard Black, environment correspondent, BBC News website, reports that the Arctic ice 'is at tipping point'.

... last year's record could still be broken even though air temperatures, both in the Arctic and globally, have been lower than last year.
The melting will soon allow the opening of a cargo route between the atlantic and the pacific and the drilling of artic oil to further warm the earth to make it cosier for us.
It's probably time to buy properties further north on the northern shores of Europe and Canada especially where the climate is becoming heavenly.
And FUCK polar bears, seals and anything that lives on earth except cattle and us of course.
This is the cynical economic reality resulting from our destruction of the environment.