President Biden called on Congress to pass a three-month federal gasoline tax holiday – about 18 cents/gallon – in an effort to ease Americans’ price pain at the pump. He also pressed refiners to boost production in the face of solid global oil demand.

Regular unleaded gasoline hit a record $5.016/gallon on June 14, according to AAA, and remains near that level this week.

However, critics across the oil and natural gas industry panned the proposal as a short-term political move – and analysts doubt a majority of lawmakers will get behind it.

[Get Better Intel: Where are natural gas prices in Canada heading in the next few years? NGI’s Forward Look now includes Westcoast Station 2! Don’t delay in getting critical natural gas price data. Request a trial now.]

Critics...