Bureau Of Land Management Helium Sales Of $60 Million Transferred To U.S. Treasury For American Taxpayer

BLM News:

AMARILLO, Texas — The Bureau of Land Management (BLM) is announcing that $60 million generated from the sale and auction of crude helium from the Federal Helium Reserve has been transferred to the U.S. Treasury.

The Federal Helium Reserve is a resource owned by the American people and managed by the BLM’s Amarillo Field Office.

“The BLM is proud to announce that the Federal Helium Program has returned more than $2 billion to the U.S. Treasury from the sale and auction of crude helium between 2005 and 2018,” Amarillo Field Manager Sam Burton said.

In addition, the BLM’s crude helium plant supplies approximately 27 percent of the U.S. helium demand, and approximately 16 percent of the world’s helium demand.

The Federal Helium Reserve is the nation’s leading producer of crude helium for both the public and private sectors. Crude helium is an important resource for technology development and other important uses related to national defense, energy, medicine, industry and space exploration. 

The last sale was held in 2018, which was the point when the remaining purchased helium reached 3 billion cubic feet, the threshold at which the Helium Stewardship Act directs BLM into “Phase C” continued supply of Federal users through the Helium “In-Kind” sales program.

The helium revenues were received in accordance with the Helium Stewardship Act of 2013, which provided for market-based pricing and competitive auctions for the sale of Federal helium. The program is entirely revenue funded, operating using a revolving fund with all revenue generated being deposited into the fund, and therefore no taxpayer money is used in its operations. 

For more information, contact BLM Amarillo Field Office Manager Samuel R.M. Burton at 806.356.1002.