Lipids are organic compounds that give you energy and are made of the elements carbon, hydrogen and oxygen. Lipids are fats, oils and waxes that you may have in your diet. Fats and oils are made of molecules called glycerol. Lipids are a type of energy that your body stores for later use and are not used immediately. Lipids are referred to as hydrophobic and do not mix well with water. Think of when you add vegetable oil or olive oil to water. You cannot get them to truly mix. As soon as you stop shaking or stirring the container the oil and water will separate.