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Olwe should've considered the factors involved and the possible outcomes and weighed his decision on those things rather than placing all weight with the wishes of the Valar.
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What is there to suggest that he did not do this? Quite possibly he did and simply came to the same conclusion as the Valar, namely that Feanor's plan was folly:
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We renounce no friendship. But it may be the part of a friend to rebuke a friend's folly.
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And if he truly believed that it was folly for the Noldor to leave Aman in the circumstances then prevailing, why would he be willing to help them leave? Certainly, he was quite within his rights to refuse to give or lend the Noldor the Teleri ships, which he describes thus:
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... these are to us as are the gems to the Noldor: the work of our hearts, whose like we shall not make again.
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Quite possibly, in time, Olwe might have been persuaded to build new (obviously less wondrous) ships. But Feanor did not stay to discuss the matter further. Hot-headed as always, he simply stormed off to brood and then, when he considered that the strength of his force was sufficient, he returned to steal them, clearly with the intention of doing so by force if necessary.