If you also consider half the Earth is experiencing day, while the other half is experiencing night, there's another benefit to transferring the power East/West as well as North/Sourth. Perhaps by doing both, we could create some kind of "power grid"...

That's just me being snarky, but we've been scaling towards this for decades, we just haven't fully gotten there. We can probably solve the technical problems, it seems the main issue to building a fully-connected worldwide power grid is that the cost of scaling that much isn't worth it (yet).

It would be extremely expensive and also risky.

One of the problems with our reliance on oil is that so much comes from an unstable part of the world (although the oil itself contributes to the instability).

Cables under the ocean can be cut by anyone who can get to them with a submarine.

You would be look at cable literally going around the world - at least a good proportion of half way round to be useful. They will be vulnerable one way or another at some point.

Then there is reliability. There have been some fairly bad failures of national power grids. A failure in a global grid would be a lot worse.