The Ottumwa Courier

Community News Network

November 22, 2012

Slate: Macy's parade contributes to loss of helium supplies

(Continued)

Since the United States is the biggest supplier of helium globally, the market value for helium has been artificially lowered. While some other countries (Canada, Russia, and Algeria) produce helium, they collectively supply only 22 percent of global demand. When the act was first passed, the price set was close to double the market price. The stock was not depleted, and in fact, a 2000 report by the NAS concluded that everything was going fine and that the price the BLM was asking was still above market value, writing, "Based on the information assembled for this report, the committee believes that the Helium Privatization Act of 1996 will not have a substantial impact on helium users," in part because "[s]ince the mid-1980s, there have been no drastic increases in the price of helium and no shortages of supply." But then global demand increased and the price tripled by 2008. U.S. consumption actually decreased, but that was more than offset by increased use abroad — primarily in Asia for semiconductor and fiberoptics industries. The market bought just about every cubic foot of helium the reserve would ship, and more than half of the reserve has been depleted.

In 2010, the NAS issued a new report that detailed the slow-moving disaster, concluding that the law "could amount to a taxpayer-financed subsidy for consumption of this scarce publicly owned resource." The reserve was being tapped too quickly, supplying one-third of world demand. Worse, since the price of helium from the reserve is so low, companies are discouraged from purifying helium because they can't get a fair price for it. Natural gas companies have little incentive to invest in the equipment and energy necessary to purify it, especially when the helium concentration is low-so the helium is being lost to the atmosphere.

Text Only
Community News Network
  • Dangerous Darkies Logo.png Redskins not the only nickname to cause a stir

    Daniel Snyder has come under fire for refusing to change the mascot of his NFL team, the Washington Redskins. The Redskins, however, are far from being the only controversial mascot in sports history.  Here is a sampling of athletic teams from all areas of the sports world that were outside the norm.

    July 28, 2014 3 Photos

  • 'Rebel' mascot rising from the dead

    Students and alumni from a Richmond, Va.-area high school are seeking to revive the school's historic mascot, a Confederate soldier known as the "Rebel Man," spurring debate about the appropriateness of public school connections to the Civil War and its icons.

    July 28, 2014

  • Fast food comes to standstill in China

    The shortage of meat is the result of China's latest food scandal, in which a Shanghai supplier allegedly tackled the problem of expired meat by putting it in new packaging and shipping it to fast-food restaurants around the country

    July 28, 2014

  • wd saturday tobias .jpg Stranger’s generosity stuns Ohio veteran

    Vietnam War veteran David A. Tobias was overwhelmed recently when a fellow customer at an OfficeMax store near Ashtabula, Ohio paid for a computer he was purchasing.

    July 28, 2014 1 Photo

  • Screen Shot 2014-07-28 at 1.33.11 PM.png VIDEO: High-dive accident caught on tape

    A woman at a water park in Idaho leaped off a 22-foot high dive platform, then tried to pull herself back up with frightening results. Fortunately, she escaped with only a cut to her finger.

    July 28, 2014 1 Photo

  • How spy agencies keep their 'toys' from law enforcement

    A little over a decade ago, federal prosecutors used keystroke logging software to steal the encryption password of an alleged New Jersey mobster, Nicodemo Scarfo Jr., so they could get evidence from his computer to be used at his trial.

    July 25, 2014

  • Russia's war on McDonald's takes aim at the Filet-o-Fish

    Russia said earlier this week that it had no intention of answering Western sanctions by making it harder for Western companies to conduct business in Russia.
    But all bets are off, apparently, when you threaten the Russian waistline.

    July 25, 2014

  • cleaning supplies Don't judge mothers with messy homes

    I was building shelves in my garage when a neighbor girl, one of my 4-year-old daughter's friends, approached me and said, "I just saw in your house. It's pretty dirty. Norah's mommy needs to clean more."

    July 25, 2014 1 Photo

  • Arizona's prolonged lethal injection is fourth in U.S. this year

    Arizona's execution of double-murderer Joseph Wood marked the fourth time this year that a state failed to dispatch a convict efficiently, according to the Constitution Project, a bipartisan legal group.3

    July 24, 2014

  • Police Brutality screen shot. Technology plays key part in battling police brutality (VIDEO)

    Allegations of police brutality are nothing new -- as long as there has been law enforcement, citizens have registered claims that some officers cross the line. But in the last few years, the claims of excessive force are being corroborated with new technology from cell phone cameras, police dash-cams and surveillance videos. 

    July 24, 2014 1 Photo

Obituaries
Record
Facebook
AP National