Not when it comes to clock speed.
Note that the total power a CPU draws is proportional to its capacitance (fixed) * its frequency * the square of its voltage + some other stuff that's generally the same across CPUs of the same generation.
But that doesn't quite tell the whole story, either; as you increase the frequency you also have to feed more voltage to the CPU to keep it stable for signal-processing reasons (a higher voltage means more difference between 0 and 1, and when you're right on the edge of it not working that will make the difference between a successful compute and a crash).
As such, when you're trying to make a CPU and want to chase clocks, you get bit twice: first by the increased frequency due to physics, and twice by the (square of the) increased voltage requirements for stability. So running at 6 GHz and requiring 1.2V to get there is significantly more expensive power-wise than running that same processor at 4 GHz and only needing 0.8V.
The only real way to fix that is microarchitecture, of course; the trick with Intel in particular is that they've been milking the same architecture they came up with in 2007 and aside from adding some Atom cores to its latest models have done basically nothing but shrink the die so it's natural that they're falling behind now.