So what are the 2-3 billion people use as cooking oil. The biggest problem the world has is it's human population. Just stopping them from doing 1 thing is not going to solve the problem. We need to give economical alternates that work as replacement. Solar and wind power started getting bigger adoption once it provided an economic advantage. If Palm oil production goes down it will be replaced with canola or some other seed oil. That will result in forests being razed in some other part of the world for growing those crops.
In my opinion the world needs an open sourced gmo grain crops that produce the most the most amount of oil for the least amount of land use.