What if in 5-10 years those engineers ride to work in self-driving robo-cars that are all electric, using cheap and powerful graphene-based super capacitors as batteries. They will have time during the commute to daydream about "wild" ways to make the fraking technology itself more efficient. And the all electric robo-cars are charged up from a cheap, efficient liquid fluoride-thorium reactor generator station. Or maybe the they are just daydreaming about an upcoming vacation to outer space while riding in luxury two-stage zepplins[1]. Oh, and the engineer is healthy and performing at peak mental and physical performance nearly continuously because he/she eats a ketogenic diet[2] centered around high-latitude reindeer herding products[3].
There are a lot of ways the world can be better.
[1]http://www.jpaerospace.com/
The data says that Jevon's paradox is wrong. See the energy usage chart here: http://www.singularity2050.com/2011/07/the-end-of-petrotyran...
Since about 1982, the annual world oil consumption has held at roughly 32 billion barrels despite efficiency improvements in petrol energy usage.
Our technological efficiency improvements are doing more with the same amount of energy and not more with more energy, as Jevon's paradox predicts.
Think about this simplified example. Our cars get better mpg today. Which means that we have energy left over to use to sink those 2 mile long pipes into the ocean. Because of the efficiency improvements, we have just done more with the same amount of energy.
The example is not compelling; 100 years ago there were no cars - are we using more or less energy now with the advent of 'car technology'? The obvious answer is: way more. We are not just taking the net energy of 1910 and 'redistributing' it. Because this is what technologies do, provide an advantage that nature does not. But technology is not free - to develop it, make it, use it, dispose of it, all requires a lot of energy. An insatiable thirst to develop and use thingamajigs is what is causing the problem, not solving it.
Keep in mind that EROEI includes not only the energy cost of operating technology but also the energy cost of developing it. Every engineer who worked on that fracking technology? Every car trip they made to/from the office, etc., all has to be included in the energy investment required to get that shale gas out of the ground.