For example, if I owned the domain "dogs.com" I would have an seo advantage over other websites if I were going for the keyword "dogs". Would I have the same seo advantage with the domain "dogs.info" or does Google only favor .com extensions?
Yes Greg, you would. As redgsr said, the search engines don't place any special emphasis on the TLD used in a domain name except in cases where a user is conducting a local search in a country-specific search engine, such as Google.co.uk or Google.ca And don't let anyone tell you otherwise.