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Fortune
Fortune
Jeffrey Sonnenfeld, Steven Tian

The U.S. has thwarted Putin’s energy blackmail. Europe says ‘Tanks a lot!’

(Credit: Alain Jocard—AFP/Getty Images)

The White House is proudly trumpeting the lowest unemployment rate in 50 years and falling commodity prices–but they have more to be proud of on the economic front.

The days of Vladimir Putin’s energy blackmail driving up energy prices and testing Western unity are quickly coming to a close amidst a string of underappreciated but significant energy victories for the Biden Administration, ranging from bringing down gasoline prices for drivers to supplying enough LNG to keep Europe warm this winter. Instead of shivering in distress, European leaders are now considering plans to supply Ukraine with advanced battle tanks.

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