A photon cannot have enough energy to create a black hole because its energy is frame-dependent, meaning it varies based on the observer's motion relative to the photon. Since a photon lacks a reference frame, it cannot form a frame-invariant object like a black hole, which requires a mass. Observers moving towards or away from the photon will measure different energy levels, reinforcing the idea that frame-dependent energies cannot lead to a frame-independent phenomenon. The discussion highlights the implications of relativity, particularly how kinetic energy affects the perception of mass. Ultimately, the formation of a black hole necessitates a stable mass, which photons do not possess.