Europe simply does not have enough known oil reserves to put a dent in current prices even if it exploited them all.

There may still be good arguments to do so anyway, such as it being less carbon intensive than importing oil, but there is absolutely no magic lever we can pull that would fix this problem that we're just not pulling due to renewables legislation.

Sure just send the continental german army straight for the oil fields, worked out great last time.

Britain could start extracting oil from its European fields instead of just buying the same oil and gas from Denmark. Sanctions could be lifted on Russian oil. Duties could be dropped. There are levers.