2009-01-07 — wsj.com
As the U.S. seeks to stockpile oil, China has been doing the same, observers say, and is expected to quicken the pace -- a development that already may be helping to boost oil prices.
On Friday, the U.S. Department of Energy said that amid low oil prices, it aims to fill the country's Strategic Petroleum Reserve to capacity this year.
Note that this is all happening not earlier when everyone still expected the oil price fall to soon reverse, but after it became a foregone conclusion that prices would "stay low" and that we were "in deflation". The authorities have timed things shrewdly.
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