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Diligent Innovations CEO Mike Barrett on Iran’s offer to help those affected by Hurricane Sandy.
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Do you.
I think that they would be the last friend offer help to the US I won't say Iran and that is offering to send -- -- to storm victims in New York there.
This is just on the heels of Iran announcing that its investing forty billion dollars in their domestic oil sector in the next five months.
Does part of it will have her PR blitz with me now -- my -- principal and diligent innovations and it -- consulting firm that specializes in national security welcome back might.
What do you make of best you think they're ready to race -- give us and how.
Well I mean of course it if we said yes they would put some people on a plane but you know we're not somebody huge amount of resources here.
And as you indicated in the intro mean this really is something we see pretty often in terms of diplomatic we did it during the Cold War with Russia same kind of thing.
We've offered plenty of aid to Iran following some -- earthquakes.
One of the most interesting periods in history actually was 2002 just after 9/11.
When Iran actually had a horrible earthquake and they did accept -- American assistance but of course tensions have worsened quite a bit since them.
Do you think they are part of -- people and it brings -- of the airports were closed.
'cause well I'm and I think they knew that we were gonna say yes but also -- they said yes they would have quickly -- some of their intelligence community and in stocks and intelligence officers amongst the crowd.
That was coming over here anyway so yeah.
-- -- -- I was gonna say I mean wouldn't there be some upside -- saying yeah come and great come on -- brings some money.
Come on over and help us out bring whatever you have I mean is there any upside to the US do we look that.
Do we get anything out of it.
I don't think so I think there's a much bigger upside for Iran mean they really are planet global PR game right now regarding their acquisition of -- their pursuit of nuclear weapons.
And so the US and Europe are trying very hard to keep these severe sanctions in place and to put.
They don't really put a hurt on the Iranian economy and so for us it would be a PR -- -- in the BP.
But again they get most of the win just by saying hey we were willing to do this and just you know they'd they'd decided not to accept it.
Yes I mean an -- speaking -- PR been last week they said that they were investing a hundred billion dollars of their oil industry and some wondered.
You know is is that really at the big number did they really have that kind of money -- today -- backed it up saying they're putting forty billion dollars and the oil industry.
By march of 2013 and sort of doubling down on that that in giving a definitive time line.
Do you -- best.
Well as a few things here one you can't really verify so they can say forty input into money does not really -- -- pressed to verify that that's the first point.
There's no there's a process by which we can know that.
Second of all the reality is so much of their economy is tied to the oil and gas industry that I mean -- it's over 60% of their government revenues.
So they have no choice and -- it is their economic lifeline they have there in the middle the ten year plan to try to really expand even further.
As of about two years ago they were the second largest producer within OPEC summing -- -- money massive a massive industry -- -- the that's just for them to be investing what seems like huge numbers is of course to be expected.
Because they know that it's an investment -- getting the money back out.
-- -- -- -- You know existing just as I was prepared to come on today -- I did some -- some search -- around on some of the news sites and it turns out that the New York Times has reported as recently as August of this year.
That.
-- Department of Justice is investigating some Chinese banks.
For being heavily involved in laundering billions and billions billions with a B of dollars into Iran so you can see that even -- we have these sanctions.
-- the reality is that there's ways to get around that.
And the other thing that they do of course is they smuggle a lot of oil so you it's very easy you know -- very fungible very easy to take it in a container send it over to Iraq -- -- wholesale price.
Have the Iraqis -- on to deal global oil market.
And then obviously the Iraqis to you know pat pocket the difference but the Iranians at least get the wholesale value.
Yeah absolutely we've been covering a story that came out of Reuters about them.
Smuggling gold into the country getting it from Turkey it's going through Dubai -- I'm sure that's part of the same chain that you're talking about there's probably oil in there somewhere right yeah behind them.
-- absolutely absolutely and in the smuggling routes to go on -- not part of the world are just a minute you know they're they're fabled it's been happening are centuries.
Mike -- thanks so much -- coming -- we always appreciate your time get insight.
