It could be. If so your fuel pump is inside your fuel tank.
Now, hold your horses : )
if your car cranks but doesn't start, you could have either a lack of fuel (maybe a fuel pump, maybe not; when you turn your key to ON, do you hear the fuel pump? Check your fuel pressure), a lack of sparks (check for sparks with a tester while someone cranks the engine), or lack of compression (check compression on each cylinder).
If you don't have the tools for all these tests, you can buy a can of starter fluid ($2), remove the air duct, open the throttle plate and spray some fluid in there, and crank the engine; if it starts then die, your problem is fuel related, if it doesn't start at all it's likely spark related or possibly compression related.
When we know what's missing (fuel, spark, compression), we'll be able to narrow in on the culprit.