Levels are rising
by Lars
I don't know too much about this debate, however, I have read a few articles on the subject and I was under the distinct impression that sea levels were demonstrably rising. The site another Lars cited as saying that they are not appears to say they are. Check out the levels for the Indian, Atlantic and Pacific at the top of the page over the last fifteen years.
http://sealevel.colorado.edu/results.php
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