Compared to coal-fired electricity, yes. However, it’s still an extractive, hydrocarbon-based fuel (fossil fuel). As such, when burnt it produces carbon dioxide that would otherwise not be in the atmosphere. It may be a means of reducing the amount of extra carbon dioxide we put in the air, but we really need to reduce the amount of pollutants in the air, which can only be accomplished by moving away from all fossil fuels and finding better ways to capture the pollutants now in the air.
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