Not really an "invention" per se - as with most things, it's a known chemical process that has been used and studied in industry for many years. Sort of like Fischer-Tropsch, which is suddenly gaining momentum for being able to convert CO2 into hydrocarbons and diesel - seems novel at first but it's been around since the 1920s.
Reason it's not done on a large scale now is simply cost-effectiveness - it's not an economically viable way of making plastic. At the end of a day, plastics businesses are businesses with competition and a promise to the shareholders - if it is much more cost effective to simply produce plastic from refined crude, then that will be the main process used to generate the product.