Europe stands at a critical juncture as it braces for a winter marked by soaring energy costs, geopolitical uncertainty, and mounting supply pressures. Gas prices have surged nearly 50% this year, driven by the confluence of dwindling Russian exports, sanctions, and fierce competition for liquefied natural gas (LNG) from Asian markets.

Europe faces its toughest energy challenge since the onset of the Ukraine war - as storage levels are rapidly depleting amid dropping temperatures. And with policymakers grappling with the immediate crisis, the broader question looms: can Europe balance its need for energy security with the ambitious push for independence and sustainability? Bank of America's Christopher Kuplent and crew explore the implications.