What's the market value of all that oil, or the impact to the market the immediate shut down of new oil exploration could incure? There has to be a reason ecom

What's the market value of all that oil, or the impact to the market the immediate shut down of new oil exploration could incure? There has to be a reason ecomonically that this hasn't been solved naturally already - otherwise it's a no brainer. Maybe the coming rise in oil prices will push more attention to alternative energy and energy efficiencies like 2 years ago.