Sounds like the perfect solution to sea level rise caused by melting glaciers. Just bottle it all up.
I can see it now "Every bottle of water sold fights you dealing with climate change!"
/s
For all the ice on land that melts into the ocean raising the sea level, take an appropriate amount of seawater and freeze it back onto land.
That might be too difficult though; maybe instead we can replace all of the oil underground with water. It's all underneath us anyways so just leave the hole open and water will naturally pool down there.
You do have pump the water in under pressure though, just letting it pour down the hole will not work since rock is more dense the water. Imagine you were standing on a sponge in the shower, the sponge will not absorb much water since you are squishing all the pore spaces closed.