Imagine what would happen if they (we, I guess, since I live here).
The world is pretty connected - that is more obvious here than when I lived in the states. And most of the world's shipping, transport, etc runs on that. Simply stopping the drilling would cause disruption and aggression. It could easily fuel more fracking, for example, or more places using unsavory means to get the oil (My understanding is that they try to be as environmentally friendly as possible while drilling). In addition, it would, at this point, cause local harm to the folks living here and elsewhere. The oil profits are redirected to the oil fund, which are invested in different sorts of companies and helps others out as well as Norwegians, who use the interest from the fund to pay for various things.
To stop drilling, the gas consumption really needs to be attacked on a global scale. Renewable energies, electric cars, and such things everywhere - affordable to everyone.
In addition, 14 other countries produce more oil.
https://en.wikipedia.org/wiki/List_of_countries_by_oil_produ...
5 others produce more natural gas:
https://en.wikipedia.org/wiki/List_of_countries_by_natural_g...
At least some sort of effort is being made. Which is more than I can say for the US, which tops both lists.