Economy The U.S. just sold its helium stockpile

[syct23]

or maybe...just maybe.....the government is being run by fucking idiots.

I see nothing wrong with your opinion…

 

[jx820]

Even with a non-Helium dependent magnet for MRIs, the price for replacement will likely be cost prohibitive enough that most hospitals will be slow in making the switch which means demand for Helium for that specific use will likely continue at its current demand for some time to come.

It's going to taper for sure, and it remains to be seen how the new machines will perform in the field, but yesterday the reality of the stockpile was "when this runs out there will never be another MRI again", and today there's an option. Instantly the dependance on Helium as a strategic resource changed.

And bear in mind that just because we sold it doesn't mean it's gone. It's now just in the commercial markets.

 

[Xuh]

just so long as they don't sell all the zinc

 

[panamaican]

It's hard to comment without knowing the details of what their obligations would be under the contract.

Privatizing natural resources is something that I've come see as a bad idea, compared to my younger days. I love the private sector but you can't hand every thing over to it and call it good government.

 

[Teppodama]

The steel mill in my town just shut down because of that Nippon deal, putting thousands of people outta work and taking millions outta the local economy by losing all those well paying jobs
Big thumbs down

Really hate to hear that, truly

 

[Hog-train]

Supply chain guy here.

There's a big difference between ammo and helium.

I'm not an expert in weapons and munitions, but from what I understand, Ammo while technically having a nearly infinite shelf life has a recommended use by date of roughly 10 years from the date of manufacture. So you want to cylcle through it and replace it if needed rather than scrap it or dump it into goverment surplus markets.

Good post.

Most of the ammo the US gave were 155MM artillery shells and the recommended shelf life is 10 years.

 

[StonedLemur]

Seems like standard business practice to me. You currently have a supply so you sell the product and then when citizens of your own country need that product you raise the price and pass it on to the consumer. You make money now and when the product is needed you bump up the cost due to low supply and make money later.

It's a smart business move.

What a shit outlook, good business practices or not.
Fuckin over your citizens is not a good idea in any sense.

 

[Fluffernutter]

There were concerns about a helium shortage a couple of years ago. But, back then, the concern was that there were only two major players in the world: The US and Qatar.

I know the crux of the article within this thread was specifically about MRI machines. But, the concern from a couple of years ago was that helium is needed for lots and lots of manufacturing plats from highly technical goods (e.g. cleaning computer parts while on an assembly line).

One would assume that the US and Qatar would have a lot of leverage on much of the world market with such a rare element within their borders.

 

[James Eagle]

Wtf for

this administration is trying to destroy the country

 

[UFCUCF]

**reads entire thread in high pitched helium voice**

 

[therealdope]

Supply chain guy here.

There's a big difference between ammo and helium.

I'm not an expert in weapons and munitions, but from what I understand, Ammo while technically having a nearly infinite shelf life has a recommended use by date of roughly 10 years from the date of manufacture. So you want to cylcle through it and replace it if needed rather than scrap it or dump it into goverment surplus markets.

I have more expertise in Helium. Helium is a non-renewable element and it can't be "made" it's a natural biproduct of Uranium decay but uranium has a half life of between 160,000 and 4.5 billion years. Because of the molicule size, and what temp it liquifies, and how little exists in the atmosphere, we can't harvest it from the air.

And my guess is the reason that (despite all of that) they deemed it wise to sell some reserves is 2 fold. 1) Helium is very valuable now so it will sell at a very high price. 2) Philips has figured out the helium free MRI magnet which will effect demand in coming years. I'm also hearing about a completely lossless transportation system but I'm not 100% on that.

Helium-free MR Magnet | BlueSeal | Philips Healthcare

Transition you department to more productive helium-free MR operations. Explore what Philips revolutionary fully sealed BlueSeal magnet can do for your organization.

www.usa.philips.com

Edit: I just want to add that the reactionary horror from the people who didn't know we had this reserve a week ago and don't understand the market is a think of beauty.

MR systems used to run on 1200 liters of He. Because of the 2014 scare of supply modern systems require ~1 liter IIRC.

 

[JonnyBonesPharmacist]

Who did they sell it to? Hopefully not China, as there will be many more "spy balloons"

 

[Teppodama]

There were concerns about a helium shortage a couple of years ago. But, back then, the concern was that there were only two major players in the world: The US and Qatar.

I know the crux of the article within this thread was specifically about MRI machines. But, the concern from a couple of years ago was that helium is needed for lots and lots of manufacturing plats from highly technical goods (e.g. cleaning computer parts while on an assembly line).

One would assume that the US and Qatar would have a lot of leverage on much of the world market with such a rare element within their borders.

I believe Russia is the other non-US supplier

 

[Teppodama]

Who did they sell it to? Hopefully not China, as there will be many more "spy balloons"

Germany

 

[Teppodama]

Just wait till the clowns rise up in sadness and fury.

 

[Fox by the Sea]

 

[panamaican]

Just wait till the clowns rise up in sadness and fury.

Rise up?

Not without the helium to do so...

 

[Teppodama]

Rise up?

Not without the helium to do so...

Well played

 

[Andy Capp]

Apparently there is more than enough stockpiled that they are not worried , or have come into a large supply that nobody knows about.

Or even better, they discovered something new that they feel we shouldn’t know about yet.

Deemed not worth worrying about stockpiling anymore.

It's not much of a secret, really. New sources of helium have been discovered and they're already gearing up to exploit them.

E.g. this from 2022,
https://www.lyellcollection.org/doi/10.1144/petgeo2021-029