Canada wants to claim the seabed at the north pole for the fossil fuels there.

Oil and natural gas from the north pole have no value because they will never be used. To extract even 30% of the known reserves will lead to global heating disaster. Before civilization gets to the point of extracting the expensive fossil fuels from the north pole, it will collapse.

However, Canada and companies can pretend these fuel reserves have value, thus adding to the carbon bubble.