When you think of helium, you may envision buying a bunch of balloons for a party, or uttering something in a goofy, high-pitched voice, or perhaps pointing out an occasional blimp hovering overhead.

What you might not know is that while helium is the second-most abundant gas in the universe (behind hydrogen), on Earth, it's considered a rare element.

You see, even though most natural gas contains traces of helium, it's unusual to find it in concentrations that are commercially viable to extract, capture, and store.

The gas has proven to be essential in military, medical, and industrial applications, all of which far exceed its use as a lifting medium. And it's in high demand all over the world.

Now, there are plenty of known reserves on the Moon, but supplies of helium on Earth will last only another 25 years or so.

The United States had the foresight to start storing helium back in the 1920s, but changing policies are inflating prices for this sought-after element.

Highly Useful

Helium is one of the most unique elements on the periodic table; there's simply nothing else like it. It has the lowest boiling point of any other element and won't solidify or freeze, even at temperatures near absolute zero. In fact, helium is the most important element in understanding super-cold conditions.

Furthermore, its inert properties (meaning that it doesn't react to other elements or chemicals) make it the only gas that can pressurize and purge the liquid engines of super colliders and even rockets.

Helium is also fantastically light, but it won't explode like other gases, such as hydrogen. The Hindenburg most likely wouldn't have exploded in 1937 had it been filled with helium instead of hydrogen.

Helium is also useful as a liquid coolant for superconducting magnets like those used in magnetic resonance imaging (or MRI) machines. Its inertness makes it useful as a shielding agent in arc welding. And it prevents contamination with oxygen in air, making it pertinent in semiconductor and fiber optic manufacturing.