They don't create elements, they create molecules. They don't pull methane out of grass, grass doesn't pull methane out of the air. Grass pulls CO2 out of the air and it is fermented by microbes into methane (CH4). Methane is a far more potent greenhouse gas than CO2 although it stays in the atmosphere for a shorter time before it does break down back into carbon dioxide and hydrogen.
In a sense, yes, everything on earth is basically a closed loop and it all eventually balances out. The amount of each element remains stable. The problem is that things like mass farming of cows shifts the balance of those elements.
