Bush says wants action on gasoline plan by end 2008

WASHINGTON (Reuters) - President George W. Bush on Monday directed his cabinet to complete action by the end of 2008 on his plan to cut U.S. gasoline use by 20 percent by 2017.

In his State of the Union speech in January, Bush floated a proposal to raise U.S. biofuels production five times current levels by 2017 and raise automobile fuel economy standards by 4 percent a year through 2017.

"I have directed members of my administration to complete the process by the end of 2008," Bush said, speaking to reporters at the White House.

Bush said the new timeframe is "the first steps toward regulations that would cut gasoline consumption and greenhouse gas emissions from motor vehicles using my ... plan as a starting point."