Nationwide helium shortage causes spike in prices - KOTA Territory News

Nationwide helium shortage causes spike in prices

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 A nationwide helium shortage has caused a spike in helium prices.

Although helium is the second most abundant element in the universe, most of it in the Earth's atmosphere escapes into space.

Today, the U.S. alone produces 75 percent of the world's helium.

Roughly 30 percent of the world's helium supply comes from the U.S. Federal Helium Reserve. With the nationwide helium shortage most of the helium is sold to hospitals first.

Dakota Party in Rapid City has helium on hand because owner Jack Wellman says he's lucky his supplier still has access to helium.

"We've seen our prices more than double over the past six months. We have a supplier that has been able to supply us, so we are able to get it for now," said Wellman.

As helium reserves tighten, the greatest impact could be on healthcare and small - scale scientific research.

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