@carl and @richard
I have a podcast request/issue about this whole exercise question. Why do folks like Jason Fung, who’s all about the hormones, who explains weight and hunger and fat storage and carbohydrates from the perspective of insulin and leptin, etc, suddenly revert to talking calories when he’s discussing exercise?
I think everyone agrees that for getting to and maintaining a healthy weight, food quality/quantity (including fasting) is top priority, and I would put sleep/stress management second if I had rank the next variable, but the reason exercise is up there toward the top of the list is because of how it affects our hormones, not because of how many calories it burns.