All are excited, drinking energy drink in pubs (4,3)
I believe the answer is:
real ale
'drink in pubs' is the definition.
(drink served in pubs)
'all are excited drinking energy' is the wordplay.
'excited' indicates an anagram.
'drinking' indicates putting letters inside (inserted letters are consumed or drunk).
'energy' becomes 'e' (physics symbol as in E=mc2).
'all'+'are'='allare'
'allare' is an anagram of 'ralale'.
'ralale' going around 'e' is 'REAL ALE'.
(Other definitions for real ale that I've seen before include "Bitter, possibly" , "The RA in CAMRA" , "CAMRA interest" , "Traditional drink" , "Objective of campaign" .)