Renewables lead to energy independence and a more distributed energy grid. It's fundamental to security, and can't be so easily measured in terms of money. The EU is increasing its independence from China via initiatives like the Net-Zero Industry Act. And this talk of "politicians being bought by Chinese companies" is laughable in the face of what oil companies are doing, to the benefit of exporters like USA, Russia, Saudi Arabia, and other regimes, and definitively not the EU.
I'm not sure, I'm in Poland and all we had was coal. Now it will take a few decades to have our own source of power again. Maybe 20-30 years..?
What are oil companies doing to drive European companies out of business (not saying they aren't, I just don't know)?