Volatil energy prices will not go away with Russia’s aggression on Ukraine being a “defining moment” for the century. John Kerry, special presidential envoy for climate, said Monday at CERAWeek by S&P Global.

He comments as follows Russia’s invasionGlobal energy markets have been disrupted and global supply chains disrupted. Oil shot above $130Sunday evening marked the beginning of 2008’s first ever trading day for natural gas in Europe. Trading in natural gas is taking place at levels never before seen in Europe.

Kerry was Secretary of State under the Obama administration. He said that volatility is something “we’re going to have to live with” and nations need to work together to combat it. President Vladimir Putin’s“illegal, unprovoked war that is profoundly hazardous”

This is a critical moment for us all. Kerry stated that it is also alarming to hear about the planet’s current state.

He said that companies and countries aren’t doing enough right now to support the energy transition.

Kerry explained that many targets for emissions reductions are set in 2050. However, focusing on three-decade goals is not the right approach. Rather, the real measurement should be what’s done between 2020 and 2030 — only action now will achieve 2050’s stated goals.

“You can’t get there … if you don’t do what you need to do between 2020 and 2030,” he said.

Kerry stated that the Biden administration will continue to pursue an “all-of-the above” approach to future energy policy.