From the Los Angeles Times

$4 gasoline? It's news to Bush

When asked about the possibility of the price going that high, president says, 'That's interesting, I hadn't heard that.' He also says a tax hike on oil companies would drive the price up further.

By Maura Reynolds
Los Angeles Times Staff Writer

11:16 AM PST, February 28, 2008

WASHINGTON-- President Bush said today he was unaware of predictions by some analysts that gasoline could reach $4 a gallon by this spring because of strong demand and reformulation.

"That's interesting, I hadn't heard that," Bush said after a reporter asked about the prospect. "I know it's high now."

In a news conference, Bush said however that a tax increase by a new Congress and president is as troubling as a prediction of the price of gas.

"If you're out there wondering ... what your life is going to be like, and you're looking at $4 a gallon, that's uncertain," Bush said. "And when you couple that with the idea that ... taxes may be going up in a couple years, that's double uncertainty."

Bush again touted the benefits of alternative fuels and conservation. But he chastised Congress for talking about an $18-billion tax increase for large oil companies.

"All that's going to do is make the price even higher," he said.