What is the Importance of Magnetic Energy?

Modern life as we know it would not be possible without magnetic energy. It is used to generate and distribute electrical power for our homes and factories (generators and Transformers). It is used to perform work (motors). It is used in telecommunications (telephones, televisions). The computer you typed your question on could not function without it (switching power supply). It is used to diagnose medical problems (MRI). The ignition system in most cars uses magnetics to provide the spark to run the engine. There are literally hundreds of uses of magnetic energy, these are just a few! Earth's magnetic field allows us to navigate by compass, but more importantly protects us by deflecting harmful radiation. Oh, and how could we live without those handy little refrigerator magnets that we use to stick notes to the fridge?