US Government sells the federal helium reserve

[kelemvor]

It looks like the Biden administration is in the process of selling the entire Texas helium reserve. According to the person in this video, it accounts about 33% of all helium. Get ready for even greater shortages and massive price hikes.

There's never been a better time to switch to closed circuit tech diving.

 

[Still Kicking]

It looks like this is a result of Congressial action in 2013, which essentially privatized the helium reserve. I am sure the supporters of smaller government will heartily endorse it.

No doubt it will result in price hikes.

https://www.blm.gov/sites/blm.gov/files/BLM%20NM%20Helium%20Press%20Release%20April%2016%202020.pdf

 

[Wookie]

Because the government is the most efficient manager of everything, right?

 

[formernuke]

Because the government is the most efficient mismanager of everything, right?

Fixed it for you.

 

[lowwall]

Because the government is the most efficient manager of everything, right?

The private sector is not always the most efficient manager.

Go read Adam Smith. The "invisible hand" only works where you can have true competition. It does not apply to monopolies. Nor does it work well when for public goods that can't be directly measured in dollars such as ensuring a stable supply of helium to support research and medical needs.

 

[lostsheep]

It looks like the Biden administration is in the process of selling the entire Texas helium reserve. According to the person in this video, it accounts about 33% of all helium. Get ready for even greater shortages and massive price hikes.

There's never been a better time to switch to closed circuit tech diving.

I’m no economist but why would (temporarily) increasing the supply also increase costs?

Why would this be the current POTUS’s fault when the process was begun under a split congress 11 years ago?

 

[RedSix]

There's never been a better time to switch to closed circuit tech diving.

If there is no Helium at all (for private use), a CCR is useless.

 

[rjack321]

I’m no economist but why would (temporarily) increasing the supply also increase costs?

Why would this be the current POTUS’s fault when the process was begun under a split congress 11 years ago?

The temporary supply increase was over the last 20 years. That's long gone relative to demand

 

[rjack321]

Because the government is the most efficient manager of everything, right?

IKR? Just sell it off to the highest bidder and then complain that all your medical and technology grade helium is somehow, by some magical unknown mysterious force of economics, in China.

 

[formernuke]

Probably where it's going.