This is a really curious article
1) You are essentially correct...burning natural gas produces water and CO2...both of which are “greenhouse” gasses.
2) Odd that the article refers to the supplies as “Global” Supplies...why not just say that it will increase “Supplies” (without “Global”)
3) This is not a new method
= = =
Assuming that the NYT is a mouthpiece for the Democrat party, I would tend to think that this non-news article is setting up a fall back position for the case that cap-and-tax legislation fails. Obama can still be made the hero by promoting a technology (one that already exists and does nothing for his cause).
It was on the front page of the NY edition, not the national. Go figure. It was otherwise buried in the energy/environment section, IIRC.