they don't own our oil. they buy it, at a slight discount.  they want to own it, outright and ramp up production. there's also countless resources they want, uranium, potash, fresh water, lumber, etc.  that being said, you're right. even all those trillions in resources are nothing compared to wanting full control of the northern passage. they want that, and it's top priority. so much so that they're calling it a national security emergency.
Canada