I agree that huge benefits would come from electrification of residential and commercial (e.g. heat pump, induction stove, etc.), industrial (starting with the dozen of blast furnaces in US), and transportation (e.g. trains, trucks... more technologically difficult for ships and planes).

Electric "transformers" (aka machines) are more efficient in general than their fossil fuel counterparts (less heat).

Electrification (with matching electricity production) is a matter of national security. If/when fossil fuel would become either more scarce or more expensive (or both), all hell will break loose. There would be conflicts and chaos.

China is planning for long term, and putting resources in to it.

Unfortunately, the US democracy is not suitable for long term planning (while politicians can have very long terms, they are always busy planning for their re-election, not planning long term for the country). Who would have the fortitude to plan for a 10, 20, 50 years time horizon ?

US should plan for electrification (production + grid) and give a strong signal to the industry so the industry can plan ahead (e.g. GE,etc. can prepare production from gas stove to electric stoves, car manufacturers and dealers to electric vehicles, logistic companies to be ready to use electric trucks and trains, etc.), and no flip-flopping signals like we get now. The industry needs to feel confident that their investments would hold decades from now.

All this would takes years, and cost a lot. And the benefits would only be visible decades from now (no incentive for politicians). But at the time, any nation still dependent on fossil fuel, would be crushed.