Helium, as a by-product of the natural gas industry, will be impacted by the decline in consumption of fossil fuels as the world moves towards net-zero carbon emissions. In September 2022, all assets relating to the US government’s previous helium industry were sold. In the US, helium is now only available from private suppliers. In June 2022, Russia banned the export of helium to “unfriendly” countries, highlighting the geopolitical issues surrounding the industry. In the past, helium was popularized, and the industry was supported by its military applications (filling dirigible aircraft, welding fighter jets and purging rocket engines). It also plays an important role in supporting present-day technologies (e.g., MRI machines and spectroscopy) and will also be important for a high-tech future (e.g., in quantum computing, fusion power, and space exploration). Shortages of helium will inevitably cause skyrocketing prices and consequently lead to significant challenges for research and development (as has happened in the past) and technological progress, as well as a slowdown in world economic growth and prosperity. Anticipated declines in natural gas production, associated with moves towards net-zero carbon emissions targets, make helium less accessible. While this is problematic for industry in the short term, it perhaps preserves some low entropy helium within the ground, making it more accessible to future generations. Given anticipated limitations to the future supply of helium, technological developments are currently focused on a few areas: the replacement of helium by other gases in industrial applications, changing technological approaches to not require helium, and reducing the cost of obtaining helium from the atmosphere. This paper explores the past, present and future of helium, focusing on the sustainability of the helium industry.
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