All is not well in the North Pole. An oil company risks ending Christmas forever by using dynamite in the Arctic to find drilling sites. Santa Claus (Art Carney) marshals his elves in an effort to appeal to corporate executive Michael Baldwin (Paul Le Mat) ; his environmentally attuned wife, Claudia (Jaclyn Smith) ; and, of course, their gift-loving children. A trip to Santa's workshop, guided by the bearded one himself, just might be needed to save the day!