Yes, currently excess natural gas is processed using steam reforming to obtain industrial hydrogen but there are problems because natural gas is also used for heating homes and cooking. If you extract more hydrogen from natural gas then the price of natural gas will skyrocket and a lot of home owners will be really pissed.

And, of course, the problem with converting farmland to grow grass for methonal means less land producing food. That is one of the problems with using corn as well.