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Legislation that would allow the U.S. to continue selling helium from federal reserves cleared the Natural Resources Committee of the House of Representatives late last month and will likely come up for a full House vote soon. The bill (H.R. 527), sponsored by Reps. Doc Hastings (R-Wash.) and Edward J. Markey (D-Mass.), would overturn current law, which requires that the Federal Helium Reserve stop commercial sales of helium as soon as it pays off a $1.3 billion debt that it accrued when helium demand was low. The payoff is expected to happen later this year. Industries that use helium are concerned because the reserve accounts for 50% of domestic helium supply and 30% of all sales worldwide. The bill would direct the reserve to auction to commercial buyers all but 3 billion cu ft of its stored helium. In the Senate, Ron Wyden (D-Ore.) and Lisa Murkowski (R-Alaska) have proposed draft legislation that would transition the country away from federal ownership of the helium supply more slowly than would H.R. 527.
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