Bush on $4 gas: ‘I’ve heard of it now.’ (Updated)

In February, when President Bush was asked what his “advice” would be to the average American who is “facing the prospect of $4 a gallon gasoline,” he replied, “That’s interesting, I hadn’t heard that.” At a press conference this morning, a reporter followed up and asked the president about his previous comments in light of nationwide average gas prices hovering well above $4/gallon. Bush responded, “I’ve heard of it now.” Watch it:

UDPATE: The title of this post has been changed. An early close-caption transcript reported Bush’s remark as “Where are they now?” A later transcript clarified that Bush said, “I’ve heard of it now.” We apologize for the mix-up.

UPDATE II: Also in today’s briefing, Bush acknowledged that offshore oil drilling won’t produce more barrels of oil anytime soon, but he added, “It is going to change the psychology.” Watch it: