If you’ve been reading the news lately, you doubtless read about the find of a really big new helium gas field in Tanzania. It’s being touted as “life-saving” and “game-changing” in the popular media, but this is all spin. Helium is important for balloon animals, scientists, and MRI machines alike, but while it’s certainly true that helium prices have been rising steadily since 2000, this new field is unlikely to matter all that much in the grand scheme of things.

The foundation of every news story on helium is that we’re running out of the stuff. As with most doomsday scenarios, the end of the world’s supply of helium is overstated, and we don’t just mean in light of the new Tanzanian field. Helium is the second-most abundant element, making up 24% of the total mass of the universe. And while the earth has a disproportionate amount of heavier elements, helium is in rocks everywhere. It’s just a question of getting it out, and at what price that’s viable.

So while we’re stoked that the era of (relatively) cheap helium can continue onwards for a few more years, we’re still pretty certain that the price is going to continue to rise, and our children’s children won’t be using the stuff for something so frivolous as blowing up party balloons — it’ll be used primarily, as it is now, where it’s more valuable: in science, medicine, and industry.

Let’s take this moment to reflect on the economics of second-lightest element. Here’s to you, Helium!

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