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Ruby on Rails application could not be started

Ruby on Rails application could not be started

The application has exited during startup (i.e. during the evaluation of config/environment.rb). The error message can be found below. To solve this problem, please follow any instructions in the error message.
Error message:
NOTE: Gem::Specification#default_executable= is deprecated with no replacement. It will be removed on or after 2011-10-01. Gem::Specification#default_executable= called from /usr/lib/ruby/gems/1.8/specifications/rubygems-update-2.2.0.gemspec:11. NOTE: Gem.source_index is deprecated, use Specification. It will be removed on or after 2011-11-01. Gem.source_index called from /usr/lib/ruby/gems/1.8/gems/bundler-1.0.10/lib/bundler/shared_helpers.rb:3. NOTE: Gem::Specification#default_executable= is deprecated with no replacement. It will be removed on or after 2011-10-01. Gem::Specification#default_executable= called from /usr/lib/ruby/gems/1.8/specifications/rubygems-update-2.2.0.gemspec:11. NOTE: Gem.source_index is deprecated, use Specification. It will be removed on or after 2011-11-01. Gem.source_index called from /usr/lib/ruby/gems/1.8/gems/bundler-1.0.10/lib/bundler/source.rb:162. NOTE: Gem::SourceIndex#each is deprecated with no replacement. It will be removed on or after 2011-11-01. Gem::SourceIndex#each called from /usr/lib/ruby/gems/1.8/gems/bundler-1.0.10/lib/bundler/source.rb:162.
Application root:
/home/mirs/sites/rails.mirsnews.com
Backtrace:
# File Line Location
0 /usr/lib/ruby/gems/1.8/gems/bundler-1.0.10/lib/bundler/setup.rb 10 in `exit'
1 /usr/lib/ruby/gems/1.8/gems/bundler-1.0.10/lib/bundler/setup.rb 10
2 /usr/lib/ruby/site_ruby/1.8/rubygems/custom_require.rb 59 in `gem_original_require'
3 /usr/lib/ruby/site_ruby/1.8/rubygems/custom_require.rb 59 in `require'
4 /home/mirs/sites/rails.mirsnews.com/config/setup_load_paths.rb 15
5 /usr/lib/ruby/site_ruby/1.8/rubygems/custom_require.rb 36 in `gem_original_require'
6 /usr/lib/ruby/site_ruby/1.8/rubygems/custom_require.rb 36 in `require'
7 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/utils.rb 301 in `prepare_app_process'
8 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/classic_rails/application_spawner.rb 176 in `initialize_server'
9 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/utils.rb 572 in `report_app_init_status'
10 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/classic_rails/application_spawner.rb 174 in `initialize_server'
11 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/abstract_server.rb 204 in `start_synchronously'
12 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/abstract_server.rb 180 in `start'
13 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/classic_rails/application_spawner.rb 149 in `start'
14 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/spawn_manager.rb 219 in `spawn_rails_application'
15 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/abstract_server_collection.rb 132 in `lookup_or_add'
16 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/spawn_manager.rb 214 in `spawn_rails_application'
17 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/abstract_server_collection.rb 82 in `synchronize'
18 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/abstract_server_collection.rb 79 in `synchronize'
19 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/spawn_manager.rb 213 in `spawn_rails_application'
20 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/spawn_manager.rb 132 in `spawn_application'
21 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/spawn_manager.rb 275 in `handle_spawn_application'
22 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/abstract_server.rb 357 in `__send__'
23 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/abstract_server.rb 357 in `server_main_loop'
24 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/lib/phusion_passenger/abstract_server.rb 206 in `start_synchronously'
25 /usr/lib/ruby/gems/1.8/gems/passenger-3.0.8/helper-scripts/passenger-spawn-server 99