The answer is yes, but it depends. I trained in family medicine in southern california and spent countless nights working in the county ED (our first year call consisted of numerous 24hr and 12hr shifts in the ED) and eventually working single coverage alone on the weekends as a senior resident. We were trained to intubate, place central lines, insert chest tubes, run trauma codes (atls cert) etc. Those with whom I trained tended to prefer working in 3rd world countries and sought surgical and various procedural proficiencies.
The ED group did employ the hospital's intensivist who only saw adults. I believe he was paid the same as the ED docs and he didn't see any kids or OB pt's. The reason was because there was a need. I guess, it all depends where you are. I agree with the previous posters in that you should never work in an environment in which you weren't trained. Period. The ED is entirely different from the wards and clinic-there's a reason it is shift work. Those who train exclusively in the ED are truly specialists and one should not consider the nature of the work an extension of their basic training. It is nothing close. (try to keep cops, ma's, paramedic's, rn's, rt's, schizo's, drunk's, etc. content at the same time...) I have training in ED, but I'm not an ED physician. I am content with that distinction, but I think that it is under-appreciated.