Recent data have radically altered the X-ray perspective on cooling flow clusters. X-ray spectra show that very little of the hot intra-cluster medium is cooler than about 1 keV, despite having short cooling times. In an increasing number of cooling flow clusters, the lobes of a central radio source are found to have created cavities in the hot gas. Generally, the cavities are not overpressured relative to the intra-cluster gas, but act as buoyant bubbles of radio emitting plasma that drive circulation as they rise, mixing and heating the intra-cluster gas. All this points to the radio source, i.e., an active galactic nucleus, as the heat source that prevents gas from cooling to low temperatures. However, heating due to bubbles alone seems to be insufficient, so the energetics of cooling flows remain obscure. We briefly review the data and theory supporting this view and discuss the energetics of cooling flows.