I have heard that magnets do not possess energy and can only help control it. Also, the first law of thermodynamics says that energy can neither be created nor be destroyed and hence making a perpetual motion machine is virtually impossible as we cannot elude friction.
But consider this example. If we take a permanent magnet and tie it to a stationary rod or support with a thread or clamp and then place some magnetic material like a piece of iron near it, the piece of iron will get attracted.
Since 'work done = force applied x distance moved', here there is a force applied and the piece of iron has moved quite a bit towards the magnet. And also, when work is done, there should be energy spent and hence shouldn't it be right to say that magnets possess energy? And if that is right, it would totally violate the 1st law of thermodynamics.