For example, an uninterrupted supply of liquid helium is necessary for a vast number of university researchers, hospitals, pharmaceutical companies and high-tech industries. Some equipment can become useless or permanently damaged without an adequate helium supply. This shortage caused price spikes and a complete cut-off of supply for some prospective buyers. The occurrence of a worldwide helium shortage in 2006-7 made such concerns more pressing. Some scientists suggested that helium ought to be separated from as many sources as would be energetically ideal. On the other hand, there were people who advocated a more conservationist approach in the belief that the present value criterion resulted in too rapid use of the resource and too little consideration of the needs of future generations. According to this criterion, a resource is ideally sold at the moment that the profit plus compounded interest is expected to be higher than it will be at any point in the foreseeable future, thus ensuring maximal economic value. This economic approach is represented by the present value criterion. The maximisation of welfare resulting from this finite natural resource was the focal point of people of this school of thought. One such point of discussion was to examine the usefulness of helium storage in the United States from an economic perspective. Perspectives on helium stocking and conservation Īs early as 1982 there were discussions from multiple points of view about the possibility of helium shortage. A lack of helium supply can affect researchers and industrial users of helium, and may lead to loss of research materials and equipment. Intermittent shortages or price increases have motivated helium users to find new ways to save on helium consumption. The Helium Privatization Act of 1996 and subsequent increased demand for helium has led to market volatility and the entrance of significant new producers. Until the mid-1990s, the United States Bureau of Mines operated a large scale helium storage facility to support government requirements for helium. Helium is commercially produced as a byproduct of natural gas extraction. Helium storage and conservation is a process of maintaining supplies of helium and preventing wasteful loss. This is the third helium shortage since 2006, and the helium industry is slow to respond to shortages because of how long the process can be to produce the gas, according to the Canadian Broadcasting Corporation.Maintaining stocks of the noble gas helium If helium isn’t available, the company offers alternatives such as balloon arches or walls that don’t require helium-filled balloons. Party City created a page on its website to inform customers that because helium is in short supply, certain balloon orders might be affected. But some industries, such as party supply retailers, are now starting to let customers know about the shortage. But many parts of the world attempt to recycle helium, while the practice is seldom used in the states, according to USGS.Īnd while the supply of helium dwindles, demand continues to go up. So, is helium renewable? The short answer is no. During that auction, helium prices went up about 135 percent, according to gasworld. Sales and auctions were held since then, with the last one happening in 2018. The Helium Stewardship Act of 2013 established an auction system for the sale of the country’s federally owned helium along with all of the accompanying property and equipment. will stop distributing it by 2021, according to the bureau. Helium is also used for weather and research balloons, welding, fiber optics, leak detection and defense, aerospace and energy programs.īut despite the importance of helium, the U.S. The USGS report also noted that 14 plants in the United States provided about 1.4 billion cubic feet of helium for domestic use, with about 30 percent of that helium being used for MRIs.
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