Helium, critical for tech, faces supply chain crisis
The war in Iran is threatening the world's supply of helium, a natural resource crucial for a range of industries.
The world's critical helium supply is in a state of crisis, seven months after Iranian attacks on a Qatari gas facility and the chokepoint closure of the Strait of Hormuz. Helium, an essential element for modern life, is absent from smartphones, cars, MRI machines, rocket launches, and missiles. It is also crucial for scientific research, including the development of breast cancer drugs, immunotherapies, and treatments for Alzheimer's disease. The resource, once released, is lost forever, as it cannot be replenished.
Cliff Cain, the president of a helium exploration company, has long warned of the vulnerability of the helium supply chain, which is concentrated in just a few locations: Algeria, Poland, Russia, Qatar, and the United States. The closure of the Strait of Hormuz trapped one-third of the global helium supply in the Persian Gulf, and the strikes on Ras Laffan, the world's largest helium-producing facility in Qatar, have further aggravated the situation.
With the facility's full recovery expected to take at least three years, the global supply chain is becoming increasingly precarious. Spot prices for helium have tripled since the beginning of the war, and companies in South Korea, Taiwan, and Singapore are now seeking alternative sources in the United States. However, the U.S. may not be able to sustain this level of demand indefinitely, as the war with Iran continues.
Written by urgent.news from CBS News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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