A number of recent papers have argued that the mechanical energy budget of the ocean places constraints on how the thermohaline circulation is driven. These papers have been used to argue that climate models, which do not specifically account for the energy of mixing, potentially miss a very important feedback on climate change. This paper reexamines the question of what energetic arguments can teach us about the climate system and concludes that the relationship between energetics and climate is not straightforward. By analyzing the buoyancy transport equation, it is demonstrated that the large-scale transport of heat within the ocean requires an energy source of around 0.2 TW to accomplish vertical transport and around 0.4 TW (resulting from cabbeling) to accomplish horizontal transport. Within two general circulation models, this energy is almost entirely supplied by surface winds. It is also shown that there is no necessary relationship between heat transport and mechanical energy supply.