Helium designated a critical material in the U.S. amid global supply risk

The U.S. designated helium as a critical material on Friday because it’s indispensable for making semiconductors that are essential to energy generation, and the global supply is at risk of disruption, according to the Energy Department. The designation by the Energy Department means that more federal financing will be available for helium producers and that the government will monitor it more closely.Helium is primarily produced as a byproduct of natural gas processing. The United States is the world’s largest producer of natural gas and of helium. Qatar and Russia are the other top helium producers.Exports of Qatar’s helium supply have been severely curtailed by Iran’s closure of the Strait of Hormuz as a result of its war with Israel and the U.S. Iranian strikes on Qatar’s infrastructure have also impacted supply. Russia imposed temporary export controls on helium in April to protect its domestic supply. Story continues below advertisement Energy Secretary Chris Wright said the Trump administration is freeing America from reliance on foreign sources of critical materials, strengthening domestic manufacturing, supporting American jobs and securing the materials essential to U.S. ...