Paul Tonko: “I thank Representative Holt. I want to thank Chairman Hastings and Representative Markey and Representative Holt and…”

“I thank Representative Holt. I want to thank Chairman Hastings and Representative Markey and Representative Holt and other members of the Natural Resources Committee for working steadfastly together to bring this important bill to the floor. The Federal Helium Reserve was created in 1925, long before today's many uses of helium were envisioned. Now this element has become an essential ingredient to our Nation's research, medical, technology, manufacturing, space, and defense activities. Helium is used in welding and in the manufacturing of fiber optic cable and semiconductors. Medical imaging has become a vital tool in the health care system, and every MRI requires helium. The list of applications for this element is long and touches many important industries. When the current law passed in 1996, the situation with respect to helium's value and usage was quite different, and there was an expectation that additional private sources of helium would be developed and then of course enter the market. For a variety of reasons, that has not yet happened on a sufficient enough scale to ensure a stable supply of helium to meet our national demand for this basic element. The Federal Government, through the Bureau of Land Management, needs to remain engaged in this market for an additional period of time. The United States reserve is about 40 percent of the worldwide supply of helium.…”