"The one thing that might be said with certainty about exercise is that it tends to make us hungry. Maybe not immediately, but eventually. Burn more calories and the odds are very good that we'll consume more as well. And this simple fact alone might explain both the scientific evidence and a nation's worth of sorely disappointing anecdotal experience."
I agree that the article is interesting and I think the above extract is apt.
I recall one of the older members of my running club talking about weight loss back in the 1980s - he too simply stated that exercise alone would not result in weight loss. If exercise alone worked then people like myself would just get thinner week by week as I ride 150-200 miles at a decent pace every week. My weight is stable because I match Cals out with Cals in. I also try to get my cals from a reasonably healthy food intake so as to avoid the problems of excess refined sugar, saturated fat etc as it is possible to be thin but unfit/unhealthy. I think one of the spin-offs from exercise can be a keener interest in overall lifestyle change - the real key, for me anyway!!