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Its Just a myth!
Because more fat is burned for fuel as a percentage of the total calories burned.
Low intensity burns about 50% fat for fuel while High intensity burns about 40%. No big difference.
For an example if you burn 100 calories in 20 minutes during low intensity training work compared to 160 calories in 10 minutes during high intensity you have still burned more fat during high intensity training.
And high intensity training will also boost your metabolism long time after the workout is done. This does not happened with low intensity training . High trainings is a powerful fat loss tool, but should only be used by trainers already that have a good level of fitness. Its not healthy for a over weight person that have never trained for years then starting on a hard High intensity training program, it can be dangerous.
The basic idea when you are trying to loose fat is to create a caloric defict . The type of training doesn't matter so much as creating that decift . High intensity training just creates the defict more efficiently than low intensity training