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WHITE HOUSE STUDIES $4 GALLON 'NIGHTMARE' SCENARIO Sun Mar 20 2005 20:00:58 ET **Exclusive** President Bush's inner circle has become preoccupied with soaring gas prices and its toll on the economy, a well-placed White House source said over the weekend. Bush has quietly asked for a review of any and all economic fallout on the nation if gas prices continuing racing up and over the psychological line of $3 a gallon, as they have in recent weeks in some locations, the source explains. Bush's top economic advisers have conveyed to the president that a "nightmare" scenario of $4 a gallon is extremely unlikely in the short term. "The seasonal run-up of gas prices has been tough this year, but like every year in the past two decades, we expect we will will see some easing," the source claims from Washington. Developing... |
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