U.S. designates helium a critical material, days after 60 Minutes report

The Energy Department designated helium as a critical material Friday, days after a 60 Minutes report that examined the impact of the Iran war on the world's helium supply.The designation, which makes more federal financing available for helium producers, cited its "essential role in semiconductor manufacturing and advanced energy technologies."Even though the U.S. is the world's largest producer of helium, a range of industries have felt the impact of a shortage seven months after Iranian strikes on a Qatari gas facility and the effective closure of the Strait of Hormuz.Materials defined as critical by the Energy Department by law must have a high risk of supply chain disruption and serve

an essential function for energy technologies.The nonrenewable gas — which can become a liquid when cold enough — is well known for its use in inflating balloons, but is also necessary for manufacturing smartphones, cars, MRI machines and other technologies, sparking huge demand."Helium is essential to producing the semiconductors and advanced technologies that power our economy," Energy Secretary Chris Wright said in announcing the designation Friday."By designating helium as a critical material, we are taking another step toward securing our supply chains, creating American jobs, and ensuring the United States leads the world in energy and technological innovation," Wright said.The closure of the Strait of Hormuz in February trapped one-third