I think it was from Mel Siff's Supertraining (which I never actually read) that I pulled the figure that a 1RM clean and jerk can burn over 14kcal. I assume the lifter who did this was both very strong and very big, but anyway...14kcal. The average person doing an average cardio workout, according to Lyle McDonald, is burning about 5-10kcal/minute, which averages about 7.5kcal/min. So, 1 really friggen awesome lift = 14kcal, 1min cardio = 7.5kcal.
Now, you wouldn't be able to do enough heavy singles (let alone true 1RM's) in a session to burn more energy than just lightly walking around for the same duration as a session, due to how much recovery you need, and true 1RM's are even more demanding. But, let's take a more realistic effort. Let's say the heaviest squat you can do without grinding costs about 5kcal. At 70% of that load, assuming the speed of the movement and ROM is the same, you should theoretically be burning about 0.7x5kcal/rep...and you should be able to do sets of 10 reps with that load, with only about 1-2min rest. If a set takes a minute, and you rest 2min between sets, then you're theoretically burning 35kcal through squats every 3min, which is slightly more than 10kcal/min through cardio.
That's all in theory. Reality may not play out that way, but you get the gist. Strength training still burns calories, and it can be (but isn't necessarily) the same amount burned through cardio.
Other factors to consider: COM pointed out that muscle mass burns energy, but this should not be relied on for fat loss, and I agree. To the best of my knowledge, each pound of fat requires about 3kcal/day to be maintained, and each pound of muscle requires about 6kcal/day to be maintained, so if you have an extra 10lb of muscle on you, you'll burn an extra 60kcal/day at rest.
From my perspective, the more important aspect of strength training for fat loss is not so much the extra muscle mass and the small boost in metabolism caused by it, but that if you lose 10lb, you can lose it from a variety of sources. If you do everything you can to make sure that those sources are not muscle mass (achieved largely through resistance training), then you're helping to optimise the amount of fat that's actually lost within those 10lb that you've lost.
COM also pointed out different energy pathways. I've been at this for about a decade, and am still feeling inconclusive about whether or not energy pathways are something we should even be concerning ourselves with when training. On the one hand, if you burn an additional 500kcal/day through the aerobic system, and that's puts you at a 500kcal/day deficit, objectively you've just used up 500kcal (~55g) worth of fat, which, if perfectly maintained, adds up to a little under 1lb/wk. On the other hand, if by any means at all you end up in a 500kcal/day deficit and you've treated your body in such a way as to avoid using muscle mass for energy, then over the 24hr period your body's going to go for fat stores for energy, anyway.
I will say this, though: when I was at my leanest, most cut up, I was also doing a lot of cardio on top of resistance training. I seldom do cardio these days, and have noticed that when I go on a cut my body weight and composition is resistant to change, meaning that the amount I need to change my diet by tends to be far greater than the numbers say it should be.