KMaurer's explaination is easy to picture. But does that mean a pistol round that generates 500 foot pounds has the juice to lift a 500 pound object one foot straight up if the object were shot from directly underneath and the target were able to absorb 100% of the energy?
It does indeed have that amount of energy, and I had posted something almost identical to this as an example. But I decided to retract it later because the "absorb 100%" of the energy premise is so unrealistic that I thought that even though theoretically correct, it was too misleading an illustration to help anyone visualize the energy.
The problem is the vast differences in masses between the projectile and the 500 pound object, which makes it exceedingly unlikely that the energy can be transferred efficiently. Complete transfer of the energy would require a perfectly elastic collision and as the difference in mass between the objects increases, this becomes increasingly complex to have happen because of physical material limitations.
The difficulty comes from the need to accellerate the heavy weight. You would need a mass comprised of some kind of impossibly elastic super rubber to be able to "convert" the high-speed, low-mass energy of the projectile to a low-speed, high-mass energy in the weight by absorbing the fast motion of the projectile and releasing it slowly into the weight. This is because a heavy weight is hard to accellerate quickly.
Another way to picture it, rather than a rubber mass, would be a 500 pound weight with a very long spring under it, maybe 30 or 50 feet long. If the projectile was shot into the spring, the long travel of the compression of the spring would store and smooth the energy of the projectile and make the transfer to the mass above it more efficient as the other end of the spring slowly applied increasing accelleration to the mass. With a perfectly frictionless spring of exactly the correct stiffness and length, you could lift the mass one foot with the energy of the projectile. Sort of. Theoretically. Maybe if you added some gearing. This is why I retracted this earlier. Sigh.
The human mind has an innate understanding of the effects of momentum and so it makes it hard to use this as an example to understand the amount of energy in the projectile. That's why I retracted this sort of example from my original post. Maybe with the longer-winded explanation it's not so misleading.