Not sure about holy, but abject shit indeed for us all,

http://www.motherjones.com/environment/2014/05/west-antarctic-ice-sheet-collapse (thanks Buzzflash)

No - this is not a 'the sky is falling' situation you idiots out there -

"Two new scientific papers, in the journals Science and Geophysical Research Letters, report that major glaciers that are part of the West Antarctic Ice Sheet appear to have become irrevocably destabilized. The whole process may still play out on the scale of centuries, but due to the particular dynamics of this ice sheet, the collapse of these major glaciers now "appears unstoppable," according to NASA (whose researchers are behind one of the two studies)."