Helium

The Periodic Table outlines the numerous combinations of protons, neutrons, and electrons. The simplest form is a single electron surrounding a single proton; Hydrogen is 75% of all matter. Helium is two electrons surrounding a single proton and is the second most common element in the universe. 99% of all elements are either Hydrogen or Helium. However, given it is a very small element and not reactive with other elements, Helium typically passes through the entirety of the Earth and escapes into space such that Helium is rarely found naturally occurring on Earth. The gas supplies are harvested from breaking down other natural gases into components, which produces Helium gas. The US has maintained a Federal Helium Program for several decades that began scaling down reserves since 1996. In 2012, the global supply of helium production could not meet demand so there was actually a shortage. In 2013, Congress voted to extend the Federal program. Popular Mechanics outlines the some of the details behind the Congressional reaction to helium shortages, but the economic argument remains absent from these articles or the Congressional fodder about the topic. Helium production has to date been a by-product of natural gas harvesting or nuclear decay. Neither are cheap. However, helium prices are not robust so there is not an economic incentive - especially in a marketplace where the Federal government supplies a cheap supply. If there is anywhere close to a need for helium gas, I should not be able to spend $10 blowing up balloons for my son's birthday party on a whim. The market price is clearly low. If 30% of global production comes from a facility owned by the US government, the shortage seems a direct result of the pricing set by this facility. If prices were higher, there would likely be more of an incentive for investors to consider helium production - or a disincentive for widespread use in party balloons to suppress frivolous use of the gas. Perpetuation of the Federal production only extends the circumstance without changing the situation.