Technically water level would fall in this situation. The ice floats, hence is less dense. So the melted water takes up less space.

Regardless... snow falls from the sky and sticks on land, and creates glaciers. (you ignorant cunt) Glaciers and even iceburgs are not "ice cubes". Not to mention freshwater vs. seawater densities, the north Atlantic water conveyor.

I wonder if this isn't AEI / Exxon / DCI gag.

The great irony is that with the rising global temperatures the gulf stream in the north Atlantic is slowing. This could lead to north west Europe getting colder. The ice caps are melting in the Arctic circle which is causing more fresh water to enter the Arctic ocean and north Atlantic. Because fresh and salt water are of different densities anyway this link explains it better than I can

http://www.bbc.co.uk/climate/impact/gulf_stream.shtml

Science lesson over for today,