natural gas good or bad?

I know this has nothing to do with what is going on in class at this time but I keep seeing this commercial that is advertising for the use of natural gas as an alternative fuel. After the fist time I saw the commercial it sparked an interest, and I started to research and see if it is true that it is a "cleaner" alternative fuel. According to the United States Environmental Protection Agency it would reduce the "carbon monoxide emissions of 90 to 97 percent, and reductions in carbon dioxide emissions of 25 percent". This would be a significant reduction which would be great, but along with this comes the thought of peak oil, and natural gas is still a fossil fuel. So my question is if everyone does switch to natural gas won't we still have the problem of oil depletion to think about?

http://eerc.ra.utk.edu/etcfc/docs/EPAFactSheet-cng.pdf