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RENO (MINEWEB) - While helium is the second most abundant element in the universe,atmospheric leaks from earth into space make it relatively scare onearth. The dwindling U.S. Federal Helium Reserve has scientists,corporations and government employees worried; so much so a billhas been introduced in the U.S. Senate to deal with this growingproblem. Introduced by Senate Energy Committee on Energy and NaturalResources Chairman Jeff Bingaman, D-New Mexico, and Sen. JohnBarrasso, R-Wyoming, The Helium Stewardship Act of 2012 amendscurrent law to stop "a fire sale" of existing federal helium assetsto repay a $1.3 billion debt to the U.S. Treasury. Under current law, the Federal Helium Reserve is set to be sold byJan. 1, 2015. The 2012 Stewardship Act would continue the sell-offbeyond 2015 to ensure the remaining helium is managed and sold offresponsibly until other domestic or international sources of heliumcan be discovered and brought to market. The measure would also stimulate develop of private resources ofhelium by adopting market-based prices for Bureau of LandManagement helium sales, and encouraging helium extraction fromnatural gas exploration and production. In testimony this past week before the Senate Committee on Energyand Natural Resources, Moses Chan of the Natural Research Council'sCommittee on Understanding the Impact of Selling the HeliumReserves said, "Ready access to affordable helium is critical tomany sectors in academe, industry and government and the range ofthose uses is quite impressive, enabling research at the coldest oftemperatures, weather monitoring, surveillance in areas of combat,and optical fiber production, among many other applications." NASA and the Department of Defense "use significant amounts ofhelium, as it is the only gas that can be used to purge andpressurize the tanks and propulsion systems for rockets fueled byliquid hydrogen and oxygen," he added. In his testimony, Chan noted the balance between domestic andforeign helium consumption "has shifted significantly in the past15 years. " Tom Raunch, GE Healthcare global sourcing manager, servicing andaftermarket solutions, told lawmakers if one third of the currentglobal supply of helium is cut off by current U.S. law, it mayresult in a "potentially severe health care access issue." Helium is a critical element in Magnetic Resonance Imaging (MRI),Raunch observed, stressing "it is most important for the patientswho need access to MRI to diagnose strike, tumors and otherdiseases." Walter Nelson, director of helium sourcing and supply chain withAir Products and Chemicals, said, "...With a few badly-neededtweaks, we believe that S. 2374, the Helium Stewardship Act of2012, is the solution to prevent chaos in the helium market." "Chances are you have heard little or nothing from constituentsabout helium over the past 15 years," he observed. "That's a goodthing. With the enactment of S. 2374, chances are you still won'thear anything, a sure sign that the market will continue tofunction efficiently and effectively as it has since the creationof the Federal Helium Reserve." Nelson estimated the global helium market is now in excess of 6billion cubic feet per year with 3% to 5% growth forecast annually.Best estimates are that the U.S. has the greatest demand at 40%,followed by Asia with 26%, Europe at 22%, and the rest of the worldat 12%. The market value of the worldwide crude helium expected tobe produced by 2013 would be in excess of $500 million per year. Timothy Spisak, deputy assistant director, minerals and realtymanagement for the BLM, told the committee geologic conditions inTexas, Oklahoma and Kansas make the natural gas in these areas someof the most helium-rich in the U.S. He estimated the BLM had paid over $1.1 billion to the U.S.Treasury since 1995 toward the $1.3 billion helium debt. The agencyanticipates full repayment of the debt next year. Spisak says the bill "would create a set of phased authorities forthe BLM's management of the Helium Reserve, establishing a glidepath from the sales mandated under federal law to a scenario where3 billion scf [standard cubic feet] of helium would be reservedsolely for federal users. SUBSCRIBE to Mineweb.com's free daily newsletter now. The e-commerce company in China offers quality products such as China Lexmark Toner Chips , Xerox Toner Chips, and more. For more , please visit Samsung Toner Chips today!
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