The kinetic energy of an object is the extra energy which it possesses due to its motion. It is defined as the work needed to accelerate a body of a given mass from rest to its current velocity. Having gained this energy during its acceleration, the body maintains this kinetic energy unless its speed changes. Negative work of the same magnitude would be required to return the body to a state of rest from that velocity.
Kinetic energy for single objects is completely frame-dependent (relative). For example, a bullet racing by a non-moving observer has kinetic energy in the reference frame of this observer, but the same bullet has zero kinetic energy in the reference frame which moves with the bullet. The kinetic energy of systems of objects, however, may sometimes not be completely removable by simple choice of reference frame. When this is the case, a residual minimum kinetic energy remains in the system as seen by all observers, and this kinetic energy (if present) contributes to the system's invariant mass, which is seen as the same value in all reference frames, and by all observers.
There are various forms of energy: chemical energy, heat, electromagnetic radiation, potential energy (gravitational, electric, elastic, etc.), nuclear energy, rest energy. These can be categorized in two main classes: potential energy and kinetic energy.
Kinetic energy can be best understood by examples that demonstrate how it is transformed to and from other forms of energy. For example, a cyclist will use chemical energy that was provided by food to accelerate a bicycle to a chosen speed. This speed can be maintained without further work, except to overcome air-resistance and friction. The energy has been converted into kinetic energy – the energy of motion – but the process is not completely efficient and heat is also produced within the cyclist.
The kinetic energy in the moving cyclist and the bicycle can be converted to other forms. For example, the cyclist could encounter a hill just high enough to coast up, so that the bicycle comes to a complete halt at the top. The kinetic energy has now largely been converted to gravitational potential energy that can be released by freewheeling down the other side of the hill. (Since the bicycle lost some of its energy to friction, it will never regain all of its speed without further pedaling. Note that the energy is not destroyed; it has only been converted to another form by friction.) Alternatively the cyclist could connect a dynamo to one of the wheels and also generate some electrical energy on the descent. The bicycle would be traveling more slowly at the bottom of the hill because some of the energy has been diverted into making electrical power. Another possibility would be for the cyclist to apply the brakes, in which case the kinetic energy would be dissipated through friction as thermal energy.
Like any physical quantity which is a function of velocity, the kinetic energy of an object depends on the relationship between the object and the observer's frame of reference. Thus the kinetic energy of an object is not invariant.

