It would also cause extreme instability by shooting up unemployment, destroying large corporations that offered valuable careers with good benefits, and exacerbate polarization between those who believe in man made climate change and those who don't.
Don't get me wrong - I think energy independence is the way to go - but paying $4.5 trillion to effectively ruin the lives of millions of people is not a popular position, especially given that we have terrible safety nets to allow these people to find other jobs.
I think the much more likely, less rough path is to continue renewable research until it becomes cheaper than fossil fuels in almost all cases. At which point the market will do the rest. The vast majority of fossil fuel users do not actually care that they use fossil fuel - they just care about energy generation. If you can give them a cheaper means to achieve that, they will go for it.