Yes, but in the grand scheme of things, not by very much. Natural gas is the cleanest burning fossil fuel, however it is still a fossil fuel. A study conducted by the Energy Information Administration (EIA) shows that when you compare the CO2 output of oil, coal, and natural gas in pounds per billion Btu, natural gas emits the least amount of CO2 with 117,000 pounds per billion Btu. Oil emits 164,000, while coal emits a stifling 208,000.
What is not factored into these calculations is the external costs of extracting the gas. Hydrolic fracturing is an incredibly invasive and environmentally destructive process. As I said above, natural gas can reduce US carbon emissions, but it is simply the lesser of all the fossil fuel evils.
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