Ok, I have two questions: First of all, are there any instances in which a magnet (not an electromagnet) will remain magnetized forever? I know that some magnets do lost their magnetivity Secondly, if the above is true then consider the following theoretical scenario: Imagine a large Iron sphere in space that is magnetized, it is large enough to allow multiple small satellites to orbit it. Now, all of these little satellites are in the same orbit path and are connected to each other with a large wire. Since the the satellites would be orbiting around the sphere, wouldn't this create energy through electromagnetic induction? Moreover, wouldn't this system continue to produce energy unless it was destroyed? I'm not doubting the law of conservation of energy, just a bit confused Thanks, Kevin P.S. I have a poor knowledge of physics so if what I say is just completely idiotic or I left something out forgive me.