During a White House meeting with Republican leaders of Congress on Wednesday, U.S. President George W. Bush criticized the solutions the Democrats came up with regarding issues such as the housing crisis and soaring energy prices.

After disapproving off the Democrats’ approach on the country’s problems, Bush called on their leaders not to expand a $108 billion Iraq war bill with problems such as extended unemployment benefits.

The president added that he would veto the Democrats' housing rescue plan because the measures would compensate speculators and lenders. Bush insisted the Congress should renew the tax cuts that are due to expire and pas the laws that would renew the government’s authority to listen in on discussions of suspected terrorists.

On the other hand, Bush endorsed an alternative bill and had the Republicans on his side. Bush said that in order to deal with the surging gas prices, the United States must build oil refineries and allow more oil to be drilled in areas where it is now precluded.

"No doubt about it, we're deeply concerned about the high price of gasoline," Bush said along side House Republican leaders.

Bush critics said that such measures wouldn’t help in the short term. The president has long urged for the opening of the Arctic National Wildlife Refuge in Alaska to oil exploitation, but the Congress blocked the proposal as the environmentalists did.

Oil futures surged to a new record of nearly $123 a barrel Tuesday.