Helium is a rare and essential element with unique properties, making it difficult to substitute in various applications, including cooling, lifting, and shielding. The global supply of helium is limited, and its production is often a byproduct of natural gas extraction. The US and Qatar are among the largest producers of helium, and the closure of the Strait of Hormuz has led to a shortage and price spike. Helium is used in various industries, including MRI machines, semiconductor manufacturing, and aerospace, with no practical substitutes available for many of these applications.