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Tom Scott did a video on the National Helium Reserve a few years back: https://www.youtube.com/watch?v=mOy8Xjaa_o8 https://www.youtube.com/watch?v=mOy8Xjaa_o8

aylmao 3y ago
Huh, the video does mention they were in the process of privatizing it (at around 4:10 [1]) planning to be "stepping out of the helium activity and transferring it to private entities" by 2021 (guess it got delayed due to COVID?). The Wikipedia page for the Helium Act of 1925 [3], which created the National Helium Reserve, does mention USA was the only important source of helium at the time, and amongst other things the act banned Helium exports. Given the rarity of Helium, this sounds like a good idea. This privatization effort seems to be part of the Helium Privatization Act of 1996 [2], passed under Bill Clinton, and I couldn't quickly find any reasoning for its implementation (perhaps I'm not Googling the right question?). I wonder why they decided it'd be better to privatize it, considering the USA (at least as of 2018) still accounted for over half of worldwide helium exports [4]. It does still sound like a strategic and rare resource worth keeping under tight control, IMO. [1] https://youtu.be/mOy8Xjaa_o8?si=hMt24B9FMyy-TSBI&t=250 https://youtu.be/mOy8Xjaa_o8?si=hMt24B9FMyy-TSBI&t=250 [2] https://en.wikipedia.org/wiki/Helium_Privatization_Act_of_1996 https://en.wikipedia.org/wiki/Helium_Privatization_Act_of_19... [3] https://en.wikipedia.org/wiki/Helium_Act_of_1925 https://en.wikipedia.org/wiki/Helium_Act_of_1925 [4] https://www.sciencedirect.com/science/article/pii/S2352484722000877 https://www.sciencedirect.com/science/article/pii/S235248472...
- deleted 3y ago
  [deleted]
- cogman10 3y ago
  Clinton famously said "the era of big government is over" [1] I can absolutely see privatizing a reserve as being one of many bills meant to cut back on the size and scope of the government. [1] https://clintonwhitehouse4.archives.gov/WH/New/other/sotu.html https://clintonwhitehouse4.archives.gov/WH/New/other/sotu.ht...
- plussed_reader 3y ago
  Fits with erosion of regulation under Gingrich; veto override was on the table and Clinton capitulated, like with the telecom act of that year.
  - nradov 3y ago
    President Clinton supported the Helium Privatization Act of 1996. This wasn't a veto override situation. https://www.presidency.ucsb.edu/documents/statement-signing-the-helium-privatization-act-1996 https://www.presidency.ucsb.edu/documents/statement-signing-...
    - plussed_reader 3y ago
      Meh; timed de-regulation meat for red america leading up to November 96 election.

aylmao 3y ago

Huh, the video does mention they were in the process of privatizing it (at around 4:10 [1]) planning to be "stepping out of the helium activity and transferring it to private entities" by 2021 (guess it got delayed due to COVID?). The Wikipedia page for the Helium Act of 1925 [3], which created the National Helium Reserve, does mention USA was the only important source of helium at the time, and amongst other things the act banned Helium exports. Given the rarity of Helium, this sounds like a good idea. This privatization effort seems to be part of the Helium Privatization Act of 1996 [2], passed under Bill Clinton, and I couldn't quickly find any reasoning for its implementation (perhaps I'm not Googling the right question?). I wonder why they decided it'd be better to privatize it, considering the USA (at least as of 2018) still accounted for over half of worldwide helium exports [4]. It does still sound like a strategic and rare resource worth keeping under tight control, IMO. [1] https://youtu.be/mOy8Xjaa_o8?si=hMt24B9FMyy-TSBI&t=250 https://youtu.be/mOy8Xjaa_o8?si=hMt24B9FMyy-TSBI&t=250 [2] https://en.wikipedia.org/wiki/Helium_Privatization_Act_of_1996 https://en.wikipedia.org/wiki/Helium_Privatization_Act_of_19... [3] https://en.wikipedia.org/wiki/Helium_Act_of_1925 https://en.wikipedia.org/wiki/Helium_Act_of_1925 [4] https://www.sciencedirect.com/science/article/pii/S2352484722000877 https://www.sciencedirect.com/science/article/pii/S235248472...

deleted 3y ago
[deleted]
cogman10 3y ago
Clinton famously said "the era of big government is over" [1] I can absolutely see privatizing a reserve as being one of many bills meant to cut back on the size and scope of the government. [1] https://clintonwhitehouse4.archives.gov/WH/New/other/sotu.html https://clintonwhitehouse4.archives.gov/WH/New/other/sotu.ht...
plussed_reader 3y ago
Fits with erosion of regulation under Gingrich; veto override was on the table and Clinton capitulated, like with the telecom act of that year.
- nradov 3y ago
  President Clinton supported the Helium Privatization Act of 1996. This wasn't a veto override situation. https://www.presidency.ucsb.edu/documents/statement-signing-the-helium-privatization-act-1996 https://www.presidency.ucsb.edu/documents/statement-signing-...
  - plussed_reader 3y ago
    Meh; timed de-regulation meat for red america leading up to November 96 election.