We've had college loan cliffs and tax cliffs, fiscal cliffs and global growth cliffs. And this October, unless Congress moves quickly, it looks like we're going to float over the latest precipice: the helium cliff.
While the idea of helium going bust may sound a little silly, it happens, it'll be no laughing matter: In addition to spelling an end to party fun for millions of little kids, a cut in helium production would be economically devastating. The noble gas, which has the lowest melting and boiling point of any element, is routinely used in hospitals, rockets, manufacturing centers, research labs, and hundreds of other businesses. There's already a shortage, which has pushed up prices. If we go over the helium cliff, they would likely soar through the roof.
The big problem lies in where America's helium comes from. Currently, 42 percent of the crude helium consumed by the U.S. is produced by the Amarillo Field Office of the Bureau of Land Management. Amarillo, in turn, gets its helium from the Federal Helium Reserve. (Yes, that's a real thing. No, it's not staffed by people clown suits.) A collection of huge natural gas fields in Texas, Kansas and Colorado, the reserve pumps out 5.8 million cubic feet of helium per day, 2.1 billion cubic feet per year.
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