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Greg's avatar

Oh good. When I woke up, I was wondering what would worry me today. Now I know. But seriously, a very good, very interesting piece.

Guy Barnett's avatar

Great piece—really clear explanation of why helium matters, the connection to natural gas, and the fragility of the supply chain.

One thing that stands out is that if we want more helium, lower prices, and less exposure to geopolitical chokepoints like the Strait of Hormuz, the most direct lever is increasing natural gas output.

It's worth noting that we already know where significant untapped gas resources exist. In the U.S. alone, there are vast proven reserves in places like Alaska, the Gulf of Mexico, and portions of the Marcellus Shale that remain undeveloped due to permitting restrictions, environmental rules, and other legal barriers. Similar dynamics exist globally, where known gas fields are delayed or left undeveloped. Many of these resources likely contain helium as well.

Bringing new supply online has become increasingly difficult. In the U.S. and other Western countries, it can take a decade or more to get new projects approved—if they are approved at all—while in other parts of the world projects can move from decision to approval almost immediately, often at a fraction of the cost.

If supply constraints of helium and natural gas are driving shortages, price volatility, and security risks, then policy has to be part of the solution.

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