That's a good chunk of theory you've got there! 0A0 Both ideas are on the right track especially without any context.
You're almost right about the energy source~ Magic in this world sourced directly from the livings, creatures and nature. The next clue is Magic users are people who can gathered this energy before change it into elemental spells. The cycle of good and evil isn't what they seem, they work in tandem. Taboo elements are soul and time; usually people die for trying to control them.
^w^ You've got half-of-a-clap! <3
You have a great imagination and even managed to explain them clearly! I'm happy someone spared their time to indulge me here... TAT //Sending virtual hugs//