I\'m working on an MVC 4 project started in Visual Studio 2010. Right now I\'m working on a machine with Visual Studio 2012 as I don\'t have access to the machine I was original
This is a long shot but here it goes anyway, right click on the project --> Property Pages and make sure System.Web.Optimization entry exists. If not, copy the System.Web.Optimization.dll to your bin folder or import it as a reference.
Edit: mvc projects don't have the "Property pages" menu option.
One other thing you can try is create a new mvc4 basic project, go to the bin folder of the solution and copy the System.Web.Optimization.dll to the bin folder of your other project that is giving you the error. If you can't find the dll then try updating the nuget packages.