What's to negotiate. Everything that borders Canadian territory belongs to Canada ... c'est tout. The US can put a line around the Alaskan territory if they want, but Canada obviously owns the bulk and will dominate even outside the line around the Alaskan territory. Canada and Russian can draw a line in the midddle and after that ... there's nothing to discuss.
... or is there something more too it, like Iceland, Latvia, Lithuania and Estonia? The last three were under protection of Russia in the past ... and so be it. Iceland should be able to choose ... nothing for the US to negotiate. It's Canadian territory and thanks to Harper it has been protected and watched since he's been in charge.
It's the definition of the Northwest passage which is really the only part that needs to be asserted before arctic sovereignty is clear. Everything else is fine, and even the notion that there will be some grand military intervention is overdone (which is why the jets are pointless other than using as trophies to bolster the economy).
But yes, there is still a dispute as to whether the passage is internationally recognized as "internal waters" or an "international strait". If it is an international straight then the U.S. and other surrounding countries will be able to pass through without our consent, and that supposedly might lead to other problems with the local Inuit and the environment from what I understand.
All said and done, is that the sooner we nail this one down, the less voodoo talk about "crazy russians" and military hyperbole we need to worry about. But we already had one chance when the Americans actually favoured our position by calling it an opportunity for terrorists. For whatever reason, we pussied out.
As per the links above, I agree that we're in the clear for everything other than the Northwest passage.