Despite the fact that methane is a powerful greenhouse gas itself and burning it produces carbon dioxide there is currently quite a bit of research on extracting methane hydrates from the sea floor as an alternative to the traditional fossil fuels because there is just so much of it. Discovery Channel has an interesting video on the topic where they burn some methane hydrate ice.
Methane releases from the arctic and sea-floor could also trigger rapid climate change. Recent discoveries suggest that global warming is warming the arctic so much that the permafrost is melting an releasing a lot of methane into the atmosphere. If the arctic atmosphere continues to warm, more methane will be released, causing more warming …. This positive feedback loop would accelerate global warming. Some scientists worry that warmer ocean waters can melt methane hydrates at the sea floor releasing them into the atmosphere in a similar positive feedback loop.