The cat is out of the bag and renewables and storage is the new cheapest globally scalable energy source since the advent of fossil fuel.

Either you embrace them or get left behind.

Sure, try to cultivate a local industry, but doing it by slowing down the progress will only leave you further behind.

The chemical sector is the only reason why emissions haven't meaningfully declined yet, and I suspect it is in part due to conversion of supply chain for electrification.

The point is that they're paying a one-off cost (thus producing a peak) and they're already reaping rewards. Once they fully transition power generation to renewables and electrify transportation, what's left can be better regulated and CO2 recapture more easily scaled thanks to also R&D advances on CO2 recapture (e.g. capturing CO2 emissions from a chemical plant's exhaust). Then, even if you need more energy for CO2 recapture, you can keep scaling renewables further.