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Spurs Hosts Knicks With New York One Win Away From Championship; Congress Rejects Short-Term Extension Of FISA Act; Trump Posted Deal With Iran Scheduled To Be Signed Sunday; Fans Get Ready For UFC At The White House; America's Largest Energy Hub Running Out Of Oil; El Nino Officially Here And Rapidly Strengthening. Aired 3-4p ET

Aired June 13, 2026 - 15:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

RICHARD GADD, ACTOR: You do this amazing, guttural sob.

CLAIRE DANES, ACTRESS: Uh-huh.

GADD: And I remember writing paragraphs about that sob and how impactful it was. So there you go.

DANES: And then you mastered the guttural sob?

GADD: Yes. I learned from the best.

DANES: You saw my guttural sob and you raised it.

GADD: Yes.

DANES: Yes. I remember, I remember that moment very distinctly. I was very surprised by it. And the environment was so epic that Baz had created. And I was I think just like moved by the (INAUDIBLE) in a way and the tragedy, you know. But it -- you know, the world he creates helped elicit that.

(END VIDEO CLIP)

ELIZABETH WAGMEISTER, CNN ENTERTAINMENT CORRESPONDENT: Now, after their conversation, I spoke with Claire Danes and Richard Gadd, and it was very cool to see that Claire Danes is a huge fan of Richard's work. If you are not familiar with him, while a lot of viewers know him from his Emmy-winning series "Baby Reindeer," and now he is back with "Half Man," a series that he created, wrote, and stars in. Talk about a true talent.

Well, Claire Danes said that she discovered his work in "Baby Reindeer," and ever since then, she has been a huge fan of his -- Erica.

ERICA HILL, CNN ANCHOR: All right. Elizabeth, thank you.

And you can catch this episode and the previous episodes as well right now on the CNN App.

The hour here in the CNN NEWSROOM. I'm Erica Hill. Thanks for joining me.

We do begin this hour with a championship title on the line. This is quite the weekend for sports. And tonight in particular, big night for basketball fans. The Spurs facing off with the Knicks. Game five of course of the NBA Finals. New York leads the series now, just one win away from their first NBA title since 1973 and still riding high after that stunning and historic 29-point comeback to win game four.

Tonight's game, though, they're all back in Texas, which means for New Yorkers the place to be is at a watch party.

CNN correspondent Gloria Pazmino is live outside Madison Square Garden. There will be a watch party outside the Garden tonight. There will be a lot of parties, though, across the city, Gloria.

GLORIA PAZMINO, CNN CORRESPONDENT: That's right. It is a very big night in New York City as well, Erica. We have so many events happening here tonight. Even though the Knicks are not playing at home, they're in San Antonio, but I've spoken to some fans who are outside of the Madison Square Garden today just looking forward to tonight's game. And I would describe the energy here outside the Garden as electric right now and also a bit of controlled chaos.

And I say that, Erica, because not only are the Knicks playing tonight, but we also have several other major events happening in this area. Specifically, it's the first World Cup game that's taking place in New Jersey. And if you have tickets to that game, you're going right through here at Penn Station. So the area, it is just absolutely flooded with fans of Morocco, Brazil. But of course, also the New York Knicks.

Now, I asked a lot of people today, what's going to happen to this game. Give me your prediction. What are you willing to sacrifice for the Knicks to clinch it tonight? I heard all kinds of answers, including a man who told me he'd be willing to give up his salary for the Knicks to win tonight. People who have been waiting for this moment for years, they're excited. And they're also hoping that things stay under control if the Knicks clinch it tonight because as we've seen in previous games, some of the parties have gotten a little bit out of control. Take a listen.

(BEGIN VIDEO CLIP)

ADAM LEE, KNICKS FAN: Fifty-three years of pain. I've only been alive for 33 of it, but should be a great experience. You know, trying to end a generational curse and bring bedlam to this city.

ELYY OLIVERO, KNICKS FAN: I'm feeling excited. I feel like I'm in good spirits. I feel like we got this in the bag. I just hope we keep the peace, you know, we could celebrate without causing too much commotion. You know? World peace.

ANTHONY VENTIERE, KNICKS FAN: Jalen Brunson, king of New York. He's bringing it back to glory. You know? It means everything.

PAZMINO: Tell me one thing you're willing to sacrifice for the Knicks to clinch it tonight. What are you willing to give up?

VENTIERE: Oh. You know what? I give my first born for the Knicks to win.

PAZMINO: Your first born for the Knicks to win?

VENTIERE: Yes. Yes. Not yet, but yes. Yes, yes.

(END VIDEO CLIP)

PAZMINO: That's how it goes, Erica. You know, people here are so passionate about tonight's game. I'm passionate. I grew up here. So this is also a big night for me. And I do have to say, you know, having lived here my whole life in New York City, the area around Madison Square Garden is always crazy. But especially today, it feels, as I said, a bit of controlled chaos.

In the next few hours, however, the NYPD will start rolling out a significant security perimeter around the area. A lot of the streets will shut down to traffic. They're going to shut down to pedestrians, and you're not going to be able to get close to the Garden unless you are attending one of the several events I mentioned.

[15:05:04]

Again, the Knicks game tonight, the Knicks watch party happening outside the Garden. There is also a sold-out concert that just happens to be scheduled for tonight inside the Garden. And of course, the World Cup and people commuting to New Jersey. So if you don't have tickets to those events, you won't be able to get near this area. The NYPD also on high alert, given how some of the parties have turned out for other games.

Hopefully, you know, fans will keep it to a safe celebration tonight. I think that's what everyone here is looking forward to. But definitely the NYPD out in force, making sure that people are safe, Erica.

HILL: Yes, so many people like we just heard from that woman you spoke to, they want to capitalize on the incredible energy that is bringing this city together, and not the people who were ruining it in many ways in those small instances, right, but important ones to keep it, to keep it peaceful, as she said.

PAZMINO: Exactly.

HILL: All right, Nixon Five. I'm wearing blue right along with you today, Gloria. Let's do this. Thank you.

PAZMINO: That's right.

HILL: We also want to bring you up to speed on this key surveillance tool. So you've likely heard a lot about it this week. Security officials say it is absolutely critical when it comes to preventing terror attacks. Well, now that has expired. Congress last night failing to reauthorize Section 702 of the Foreign Intelligence Surveillance Act. This is what you hear people talking about when they're talking about FISA.

It is an incredibly powerful tool for the nation to protect national security, but it also comes with questions. Nineteen Republicans joined most Democrats to block the extension, and now the vote really sets up this political standoff over President Trump's selection of Bill Pulte to serve as interim director of National Intelligence.

CNN's Annie Grayer has more now. She's got the latest details for us.

(BEGIN VIDEOTAPE)

ANNIE GRAYER, CNN SENIOR CORRESPONDENT: A key spy and surveillance program used by the intelligence community to prevent terrorist attacks has lapsed after bipartisan negotiations fell apart on Capitol Hill. These negotiations have been struggling for months because while this program is critical, there's a group on the right and the left that have often taken issue with it because this program will scoop up data of U.S. citizens in the process.

And there's a small group of lawmakers on the left and right who have wanted to see reforms to this program, but it usually ultimately gets renewed because of the broader significance and the role that it plays. But then President Trump installed Bill Pulte as the nation's top intelligence official, and that really changed the dynamics because Democrats said that Pulte in that role as director of National Intelligence made these negotiations untenable because they said Pulte did not have the national security experience or clearance to be in that role.

So lawmakers left town without passing an extension of this critical spy powers bill. Now, President Trump has since announced that he will be nominating Jay Clayton for the role, a man who Democrats seem to find a lot more palatable. But that announcement came after the House had already left town for the week. So with the Friday at midnight deadline, it is clear that this this law will expire.

Now, the question is, what happens now? There is an argument that this will end up in the courts, where some companies may try to continue collecting this critical data, given that the courts are allowing these companies to continue to do so. But experts say it's a very murky area. So we are really in unprecedented territory here, with no sign of how it is going to resolve. And a lot of national security matters are at stake.

Annie Grayer, CNN, reporting from Washington.

(END VIDEOTAPE)

HILL: And our thanks to Annie for that report.

A top leader of one of Latin America's most notorious criminal cartels was killed in a U.S. military airstrike. President Trump posting Friday on Truth Social that Nio Guerrero, who had led the Venezuelan gang Tren de Aragua, was eliminated in a swift and lethal kinetic strike. Tren de Aragua, of course, is a group that has been designated by the U.S. as a terrorist organization. Guerrero was listed as a most wanted fugitive.

Trump's post also included a video which shows a green roofed building disappearing. You see that here, and then you'll see disappeared under a cloud of billowing smoke. Secretary of Defense Pete Hegseth adding on X that the strike was conducted earlier this week in coordination with Venezuelan Security Forces.

Still to come, President Trump touting a deal with Iran that could be put in motion sometime this weekend. So what is actually happening and what does this memorandum of understanding include?

Plus, Donald Trump's name now removed from the Kennedy Center. How that reveal or perhaps a lack of it is drawing a crowd in Washington today?

(COMMERCIAL BREAK)

[15:14:30]

HILL: The breaking news this hour, President Trump saying a short time ago an agreement with Iran is scheduled to be signed tomorrow. In a social media post, he writes, quote, "Immediately after it is signed, the Hormuz Strait is open to all." Trump also warning that if the agreement falls through, the U.S. has, quote, "the ultimate alternative." A diplomatic source previously told CNN a memorandum of understanding would begin with a 60-day ceasefire and that Iran would then lift the U.S. -- lift its blockade of the Strait of Hormuz and the U.S. would lift its blockade of Iranian ports.

There is some disagreement, though, here when it comes to the timing.

[15:15:02]

Iran's powerful Revolutionary Guard is denying that Tehran will sign an agreement tomorrow, even criticizing what they called Trump's, quote, "unusual insistence" on signing a document on that specific day.

CNN's Julia Benbrook is at the White House for us.

Impossible to ignore as well, Julia, that Sunday, of course, is also President Trump's 80th birthday. The president is offering some more specifics in terms of this memorandum of understanding. More specifics than we've seen from the White House up until now. Walk us through the key takeaways.

JULIA BENBROOK, CNN CORRESPONDENT: President Donald Trump says that an agreement with Iran will be signed tomorrow, and officials familiar with the matter tell CNN that these plans to sign on Sunday came about virtually over the last day as a way to cement the agreement and to avoid last minute changes.

I do want to pull that up for you again to highlight some of the details that he is revealing here. He says the deal is scheduled to get signed tomorrow, and then immediately after it's signed, the Hormuz Strait will be open to all. He also said that no money will exchange hands and added, quote, "At the appropriate time when all is calm, we will go in and get the nuclear dust buried deep under the powerful sunken granite mountains. Thanks to our beautiful B-2 bombers and their brilliant pilots, and down blend and destroy it, whether in Iran or the United States."

Now, that announcement came just hours after Pakistan, a key mediator in all of this, said that a deal was close and would likely be signed within 24 hours. It is important to note that both Pakistan and the United States have been optimistic at different times about being close to an agreement on the memorandum of understanding, and that Iran is not confirming that this will be signed on Sunday. In fact, Iran's Foreign Ministry said that while it will not be signed on Sunday, it could be signed in the coming days.

When it comes to what we know about this memorandum of understanding, if signed, a Trump administration official says that it would then allow for that 60-day period. So in some ways, a deal to make a deal because that 60-day period would allow them to really get into the details here. But that memorandum would include commitments when it comes to Iran's nuclear capabilities. That would include addressing the highly enriched uranium or the nuclear dust that Trump mentions there.

But, again, Trump says this will be signed tomorrow. As you mentioned, it is his 80th birthday tomorrow. It is also the day that he will have about 4,000 people with him on the South Lawn watching the UFC fights, a moment that he has long plugged for and advocated for. So it would be a time I would think he would want to tout some good news.

HILL: All right, Julia, appreciate it. Thank you.

For more on these developments, we're joined now by Ivo Daalder. He's the former U.S. ambassador to NATO, as well as a senior fellow at Harvard's Belfer Center.

So I think that the language here is interesting. I mean, there's the timing of Sunday, right? It is the president's 80th birthday. We also have the G-7 coming up. So going into the G-7 with this sign would be helpful. But the IRGC statement criticizing Trump's desire to sign the agreement tomorrow notably didn't criticize the idea of signing the agreement itself.

Is there anything you read into that distinction?

IVO DAALDER, FORMER U.S. AMBASSADOR TO NATO: Well, I mean, I think we're hearing that we're getting close to an agreement on, you know, of course, from the president. We've heard that by, I think, CNN's count about 40 times now. So we have to take that with a bit of a grain of salt. We'll really have to see the signing when it's signed, and then we'll have to look at the agreement as it is agreed. There are so many different versions. You had a senior American official reporting to reporters yesterday that 80 percent to 85 percent of the deal was done.

Well, a deal that's done 80 percent to 85 percent is not a done deal. All the hard stuff gets done at the end. And so, you know, there is this constant pressure to say a deal is done when in fact we haven't seen it.

HILL: Yes.

DAALDER: Even if somehow we get this agreement, all it does is it just turns the clock back to February 28th for the next 60 days and allows Iran to sell oil that it wasn't allowed to sell beforehand. Not a great deal from that perspective.

HILL: So then when we look at where things, you know, as you point out, this would sort of turn the clock back to February 28th, can you just walk us through, in your view, just how significantly has this war in many ways reset not just the global economy, but specifically, diplomatically? How has it changed global relations?

DAALDER: Well, in a variety of different ways. First, the United States has been found wanting by its allies in the Gulf. It started a war. It did not protect the allies who were getting involved because of the United States and Israeli decision to start a war. So countries like the UAE and Qatar and Bahrain and even the Saudis are starting to make side deals. There's a report by Reuters that the UAE has already agreed to provide billions of dollars to the Iranians in order to find a new accommodation between those countries. So that's one.

[15:20:10]

Number two, the relationship with our allies in Europe in particular has been deeply damaged by this war because the United States has called for NATO to be involved in a war that they didn't start, and a war in which they were not consulted. And the allies have said no. And that has created real tensions. Number three, and I think perhaps in the long term most importantly, China is emerging from this war as a more trustworthy and a more reliable great power. It has found a way to deal with the oil shortages by not importing a lot of oil, which has helped the global market.

It has become a major provider of renewable energy resources. And of course, it's seeing the United States using a lot of its equipment, a lot of military capabilities in the Middle East so no longer available for defending U.S. interests in the Indo-Pacific. So it's a big setback.

HILL: Yes, it is. You bring up NATO, you bring up the damage to allies in Europe. "The New York Times" reporting it's -- first of all, it's no secret how President Trump feels about NATO, but "The New York Times" reporting about these plans to significantly reduce U.S. assets in Europe. That, of course, would impact any potential needed NATO response. Maybe that doesn't come as a significant surprise.

I think European leaders have really been planning for this. Perhaps the timeline is sped up, but I was struck by something you wrote this morning in Politico saying the U.S. is now actively looking to decouple its security from Europe's.

What does that look like if it is in fact decoupled?

DAALDER: So what it looks like is that when something happens in Europe, the United States will not be involved. You know, a decoupling means that something that the president has long said the security of Europe is of no interest to the security of the United States. Of course, that is something completely new. Since December 7th, 1941, since the beginning of World War, the U.S. involvement in World War II, we have believed and acted on the basis that security in Europe is fundamental to the security of the United States.

It's why we built NATO, why NATO has existed for 76 years, to make sure that we -- the best way to ensure our security is to make sure there is no war in Europe. And if there is a war to tell the people who might start that war, particularly the Russians, that the United States will be involved. Now we're sending a different signal. We're sending a signal that, in fact, we don't want to be involved.

There are other areas of the world we're more interested in. Europe should just take care of itself. And we will decouple our security, break it from that of Europe. That is a fundamental difference. It should be debated by the -- in the United States. It frankly isn't. It will come forward in the G-7 meeting and of course at the NATO summit in Ankara in a few weeks' time.

HILL: Ambassador Ivo Daalder, always appreciate your expertise and your insight here. Thank you.

DAALDER: Thank you, Erica.

HILL: Still ahead here, we're going to take you live to Washington, D.C. for quite the event this weekend. How fans are preparing for the first of its kind UFC fight card on the lawn of the White House.

(COMMERCIAL BREAK)

[15:27:35]

HILL: Right now, organizers are putting the final touches on a first ever White House event. Underneath a hulking structure, thousands tomorrow right are expected to pack the South Lawn of the White House, where they'll watch more than a dozen UFC fighters duke it out. The unprecedented mixed martial arts show will be the organization's first outdoor event to mark the nation's 250th anniversary and of course President Trump's 80th birthday tomorrow.

CNN's Brian Todd is in Washington, near the White House, where a number of UFC fans are already gathering.

What are you hearing from some of the folks who've made their way to D.C. for the event?

BRIAN TODD, CNN CORRESPONDENT: Well, Erica, they're really excited to be here and here on Constitution Avenue, thousands of people have been streaming down Constitution Avenue for the last couple of hours just to get in line for the security checkpoint behind me. They have not started to allow people into the venue yet, into the ellipse for the fan fest event. They're about to do that in the next few minutes. It starts at 3:30 p.m. Eastern Time. But look, you can see people just lining up at the checkpoint there.

This is the main security checkpoint to get in. I'm going to kind of circle around our photojournalist, Joe Wagner. He's going to show you over here to our left, that light, that stanchion there with the screen, that's going to be one of the screens where people are going to be able to view the UFC fights tomorrow on the ellipse, the people who have tickets.

These are free tickets but you had to get them in advance and then you can view it on that screen tomorrow. All of this cost about $60 million to construct including that screen, the big claw, the so- called claw which is the huge lighting stanchion above the octagon. That was also needed to be constructed. The octagon is the big, you know, eight-sided stadium, it's a temporary stadium for those fights.

I'm going to talk to two UFC fans who made the journey from St. Louis here, Alexis Crutcher.

Alexis, this is your second time at a UFC event. How does it feel to be here for this one?

ALEXIS CRUTCHER, TRAVELED FROM ST. LOUIS: It feels good. I'm excited. I'm excited to see Derrick Lewis fight. I hope he wins. I hope he gets a knockout kick.

TODD: And Logan Marshall, this is your first time. How does it feel being here at the White House for your first time?

LOGAN MARSHALL, TRAVELED FROM ST. LOUIS: It's been insane. The atmosphere, the people. I mean, USA is here and I hope it's going to get the knockout baby.

TODD: Right. What do you feel about the security now? Obviously the security here is really tight. You guys have been herded all over these streets just to get into this checkpoint. Does that make it any less of an event?

CRUTCHER: I mean, it definitely makes it less of a worry. My parents were really nervous about me coming, but the security definitely makes it better.

TODD: What do you think about the security?

MARSHALL: I mean, I felt very comfortable. Every street there's been security, military, police, National Guard, everybody is here. I feel very safe here.

[15:30:03]

TODD: This has been a kind of a controversial event. There are some people who don't think it's appropriate to have a UFC fight on the grounds of the White House. Some people think it's great. What do you think?

CRUTCHER: I mean, I get that. It's definitely like that, but it's also a historical event. So, I mean, I'm here. TODD: All right. Logan, what do you think about the controversy?

MARSHALL: I think it's part of history. I mean the fighters walking down on the Lincoln Memorial was part of history. I mean, we'll never see that again, probably. And it was insane to see.

TODD: And both of you have tickets for the watch party at the Ellipse, but not for the octagon. Your first time. You're looking forward to it, right?

MARSHALL: Yes. It's going to be insane. I mean, seeing the fighters, like, I mean, not even in person, but like on the screen, just that close, it's going to be insane.

TODD: Thank you for talking to us, guys. Have a great time.

All right. Listen, we've talked to people who've come here from as far away as Toronto, Upstate New York, even a couple from London came here without tickets to try to get in. They're going to try to get through this checkpoint and see if anybody can get them in. But you did have to get tickets online first and in advance. The tickets are free for all these people coming in for fan fest and for the Ellipse tomorrow.

But again, it's going to be a larger crowd. There are thousands of people here for this one, but according to court documents associated with a lawsuit involved in this event, the organizers expect over 100,000 people to be crowded onto the Ellipse just for the viewing party tomorrow, about 4,000 inside the actual octagon itself, Erica.

HILL: All right, Brian, appreciate it. Thank you.

Well, we could be headed for a historic Super El Nino weather season. In fact, it's actually -- it's already underway. Millions of Americans likely to feel the effects here. So what could you be expecting? We're going to walk you through it next.

(COMMERCIAL BREAK)

[15:36:19]

HILL: We are following breaking news this hour. President Trump says an agreement with Iran is scheduled to be signed tomorrow, writing in a social media post that immediately after it is signed, the Hormuz Strait, in his words, is open to all. Now, according to that post, no money will exchange hands for the agreement. He also included a warning that if it falls through, the U.S. has, quote, "the ultimate alternative." Iran's powerful Revolutionary Guard disputes Trump's claim in terms of when it will be signed, saying there are no plans to sign a document on Sunday.

We'll continue to keep you posted on that. Meantime, gas prices, you may have noticed, continuing to fall down now for more than three weeks straight. That is great news, although as we know, still a lot higher than many people would like to see. AAA showing the national average is now just over $4, about $4.08 a gallon. Oil executives, though, worry that prices could quickly reverse course. And here's why. America's energy hub is running dangerously low on oil.

CNN's Ed Lavandera went to Cushing, Oklahoma. It's a small town that calls itself the pipeline crossroads of the world, to better understand why.

(BEGIN VIDEOTAPE)

ED LAVANDERA, CNN SENIOR NATIONAL CORRESPONDENT (voice-over): A drive around Cushing, Oklahoma, with Farrel Kleckner is like stepping into a time machine.

FARREL KLECKNER, CUSHING, OKLAHOMA, NATIVE: That rock building there is probably the oldest building in Cushing.

LAVANDERA: So over time, you've kind of become the Cushing unofficial historian or the official historian? Where are we at?

KLECKNER: The unofficial historian.

LAVANDERA (voice-over): Cotton was king here until 1912 when some wildcatters struck oil.

KLECKNER: Cushing's really took a boom in the '20s.

LAVANDERA (voice-over): In the oil business, Cushing is now one of the most important places in the world you've probably never heard of. It's a dot on the map between Oklahoma City and Tulsa, where a vast network of underground pipelines feed into one of the world's largest privately owned storage hubs for crude oil.

KLECKNER: We'll go for two miles out here. Nothing but tanks.

LAVANDERA: But this is what Cushing is known for today.

(Voice-over): As far as the eye can see, dozens of massive storage tanks dot the landscape. Oil industry analysts closely monitor how much crude oil is in these tanks. And right now, alarm bells are ringing. Usually the Cushing tanks can hold about 75 million barrels of oil. The levels now have dropped to below 22 million.

Because of the Iran war and the closing of the Strait of Hormuz, that's one of the reasons why storage levels here in Cushing have dropped to such critical levels as the U.S. is supplying more oil to other parts of the world. And analysts say that if these tanks are not replenished fast enough, that could mean in the weeks ahead we're paying more for gas at the pump.

(Voice-over): When these tanks reach the 20 million mark, it's like scraping the bottom of the barrel. The crude oil becomes an unusable sludge. From above, you can see how low the ceilings of these tanks have dipped. They're designed to float up and down with the oil levels inside.

So for 114 years, there has been a pump jack here.

STEVE CROWDER, PRESIDENT, LITTLE RIVER ENERGY COMPANY: Continuous production.

LAVANDERA: Yes.

CROWDER: Yes.

LAVANDERA (voice-over): The Cushing oil age was born on this spot.

And now it's making five barrels a day?

CROWDER: Five barrels a day.

LAVANDERA (voice-over): Site of the first well drilled here. Steve Crowder runs it now along with almost 100 others.

Given how low the capacity levels are at Cushing --

CROWDER: Right.

LAVANDERA: Does that create concern about what's coming down the pike?

CROWDER: Well, it should create a lot of concern with a lot of people.

LAVANDERA (voice-over): In the last 20 years, any time oil inventories at Cushing have reached levels this low, it's triggered historically high oil prices. Energy executives at companies like Exxon and Chevron are warning that the United States is less than a month away from seeing gas prices shoot up as long as the Iran war drags on.

[15:40:08]

Does that mean the worst is yet to come, in your view?

CROWDER: Yes, I'm an optimist or I wouldn't be in this business. But I'm afraid that it could be some difficult times coming. If the conflict is resolved, the strait is open, shipping resumes, we'll dodge a bullet and we'll avoid some real problems. And --

LAVANDERA: But if this continues?

CROWDER: If it drags on, it could be really tough. Real tough.

LAVANDERA: What happens here really matters.

LEE DENNEY, FORMER OKLAHOMA STATE REPRESENTATIVE AND CUSHING LINE: It does.

LAVANDERA (voice-over): Along an old downtown street in Cushing, we met with Lee Denney, a former state representative who was born here and has seen the booms and busts in Cushing oil. She predicts oil producers will replenish inventory soon and that will prevent a painful gas prices.

DENNEY: They're going to keep producing as fast as they can because that's when they make money.

LAVANDERA: Right. DENNEY: And so I'm optimistic that they'll fill up.

LAVANDERA: But is $5 a gallon gasoline or more than that on the horizon?

DENNEY: Boy, I hope not. I hope not because that's not comfortable for the consumer.

LAVANDERA (voice-over): Ed Lavandera CNN, Cushing, Oklahoma.

(END VIDEOTAPE)

(COMMERCIAL BREAK)

[15:46:00]

HILL: The powerful El Nino weather phenomenon has arrived, and its effects could be historic in the coming months. And even coming years.

CNN's Derek Van Dam explains.

(BEGIN VIDEOTAPE)

DEREK VAN DAM, AMS METEOROLOGIST: El Nino has officially arrived, and it's poised to affect hundreds of millions of people worldwide. But its strength is what could set it apart from previous events, with some experts saying this one may become a Super El Nino.

So what is it and how could it affect you?

Think of the Pacific Ocean as a giant bathtub stretching across the equator. Normally, trade winds push warm water towards the Western Pacific, but during an El Nino, these winds weaken, allowing this warm water to spread eastward. Once this wind circulation is altered and the ocean temperature reaches a certain threshold in this part of the Pacific, then an El Nino is declared.

This expanding pool of warm water adds a lot of extra heat into the atmosphere. As we've seen with previous El Ninos, the warmer the temperatures, the greater the impacts. And this one could rewrite the history books. The stronger ones, like what's developing now, they're less common. But these well-known events have been responsible for reshaping economies around the world. And that's because El Nino's impacts extend far beyond the Pacific basin.

The most immediate impacts, they'll be felt here across the Atlantic basin, where hurricane season is likely to be stifled. Meanwhile, expect increases in tropical development across the Central and Eastern Pacific. In winter the southern tier of the U.S. is favored by a more active and wet pattern, while the north can end up drier and milder than average.

Consequences of an El Nino ripple around the world, too, with changes in seasonal rainfall patterns across Africa that can have devastating impacts on food security and spikes in extreme temperatures leading to heat stress throughout Europe. Decreased monsoon rains across Asia mean negative impacts to a water source that's relied upon by billions. Increasing drought and heat waves could have major ramifications on next year's harvest in Australia.

El Nino doesn't guarantee specific weather at your home. It simply stacks the odds. And the science is telling us that this could be one of the biggest weather players on the planet in the years to come.

(END VIDEOTAPE)

HILL: Let's continue the conversation now. Abby Frazier is a climatologist and assistant professor at Clark University School of Climate, Environment and Society.

It's great to have you with us this hour. So, Abby, give us a sense. How will most of us know when El Nino has really arrived and if it actually turns into a Super El Nino?

ABBY FRAZIER, CLIMATOLOGIST: Yes, I -- most of the monitoring for El Nino happens by the National Oceanic and Atmospheric Administration. They are monitoring those conditions in the Equatorial Pacific. And, you know, so depending on where you live, you may or may not really feel the effects. But for places that are, you know, directly connected to the tropical Pacific, they will feel those impacts very, very quickly. And the situation can get dire for places very quickly, especially across the Pacific where they experience drought and heat.

HILL: Yes, absolutely. Is there any way to really prepare for those potential consequences?

FRAZIER: Well, so as was just mentioned, not all El Nino events are exactly alike, but we do know that some conditions are more likely to happen with El Nino. So, one of the things that I think is really helpful with El Nino is that it gives us advance time to plan for these potential impacts. We don't have many other weather events that we can plan for six months in advance like this. And so it gives us time to be proactive. And so if you live in a place that is expected to be much drier than normal, then there are actions you can take and, you know, planting crops at different times and securing water sources.

[15:50:06]

If you're in a place that's expected to see more flooding, there are other kinds of adaptations that can be made. So El Nino gives us a chance to plan.

HILL: It's such a great point. The difference that can make having that time to plan. As we look at it, one of the effects can also be we're, you know, just about two weeks at this point into the Atlantic hurricane season, which officially began on June 1st. An El Nino can actually be, in some ways, I don't know if benefit is the right word, but oftentimes we could see a slightly quieter hurricane season in the Atlantic as a result. Correct?

FRAZIER: Correct. Yes. So El Nino is not, on the whole, good or bad. It depends on where you live and what those impacts will look like. Some -- in some places, the changes brought by El Nino may be positive, like fewer hurricanes in the Atlantic, but in other places, you know, having extreme, you know, drought and fire and heavy flooding, right, there could be negative. So it depends again on the location.

HILL: On where you are. You know, as you point out, having this --

FRAZIER: Right.

HILL: The ability to plan makes such a difference. And because we have so much, you know, every year, I would -- I feel pretty confident every year we have more and more information. Just based on the research that is coming in, have you noticed a difference in the way communities are planning because they are looking to better access that information?

FRAZIER: Yes, and I think communities are better informed. Our models are getting better. We are, you know, improving our monitoring every year. So I think that there's more information and, you know, communities are really coming together and, you know, using what's available to them, all of the tools in that toolbox to reduce risk for these adverse effects.

HILL: We talk so much about the challenges across the planet, right, when it comes to the effect of a changing climate. And when we do see storms, they can be -- sometimes it feels like there are more of them. They're certainly more powerful. As a climatologist, what are you watching in this moment?

FRAZIER: I mean, we are absolutely seeing, you know, the temperatures are rising. We're seeing shifts in rainfall patterns and all of our models tell us that we can expect more of these extremes in the future. And with El Nino, in particular, one of the things we might expect is when we get an El Nino in the future, it is more likely to be an extreme event. So, it's possible we see more events like this year's El Nino in the future.

HILL: Professor Abby Frazier, great to have you with us. Thank you.

FRAZIER: Thank you so much.

HILL: Turning our attention to Spain now, where Pope Leo found himself stranded on an airport runway just as he was getting ready to take off to return back to Rome. The moment marking a chaotic end to the Pope's historic weeklong visit to the country, the captain of that chartered flight announcing a technical problem that was keeping the plane from taking off. You certainly don't want to deal with one of those as a passenger.

So the Iberia Airways aircraft was carrying the pontiff with about 80 journalists who were covering his trip, call it what you will, some people say divine intervention, perhaps an answer to a prayer or just a really nice offer from Spain's King Felipe VI, who said, hey, you know what? Why don't you take my private plane? And so the Pope and a few members of his delegation took him up on the offer. Press had to wait for a different charter flight, and all was well. Stay with us. We'll be right back.

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HILL: As a comedian, Craig Ferguson is keenly aware of the importance of free speech. This week, he's diving deeper into the intent, the limits, and even the threats to that right.

You can catch a new episode of "CRAIG FERGUSON: AMERICAN ON PURPOSE" tonight. Here's a preview.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: So it's important protections about ideas. So religion, speech, press, assembly, and petition, to petition the government.

CRAIG FERGUSON, HOST, "CRAIG FERGUSON: AMERICAN ON PURPOSE": So that allows you to have the argument.

UNIDENTIFIED MALE: All those things.

FERGUSON: That creates the environment in which discourse is possible. Right?

UNIDENTIFIED MALE: Correct.

FERGUSON: But you have to build in safeguards. And that's what the First Amendment is, right? It's a safeguard to allow you to have civil discourse.

UNIDENTIFIED MALE: Yes.

FERGUSON: Because of course it was not self-evident at all.

UNIDENTIFIED MALE: Because they have different views on how do you even put together some sort of possible union of colonies of states? Can Congress tax? Can it not tax? Should there be two Houses in a legislature? Should there even be a legislature?

FERGUSON: They don't agree.

UNIDENTIFIED MALE: They don't.

FERGUSON: Right.

(Voice-over): By failing to prepare, you are preparing to fail.

Shut up, Ben. I'm so tired of your voice. Go fly your stupid kite or something.

None of our Constitution rhymes. It's like you're actively trying to sabotage my future Broadway rap musical.

All of you, be quiet or none of you are going to Chuck-e-Cheese.

(END VIDEO CLIP)

HILL: The new episode of "CRAIG FERGUSON: AMERICAN ON PURPOSE" airs tonight, 9:00 p.m. Eastern and Pacific right here on CNN, and you can catch it the next day the CNN app.

Thanks so much for joining me this hour. I'm Erica Hill. Stay tuned. "THE ARENA" starts right now.