The Bureau of Land Management (BLM) today announced that $115 million generated from the 2016 sale and auction of crude helium from the Federal Helium Reserve is being 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, Texas, Field Office.
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 BLM’s Federal Helium Program has returned over $1.75 billion dollars to the U.S. Treasury from the sale and auction of crude helium between Fiscal Year 2005 through the year 2017.
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.
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.
Currently, the BLM’s crude helium plant satisfies approximately 42 percent of the U.S. helium demand and approximately 15 percent of the global demand.