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Connect the World

World's Biggest Diplomatic Gathering Kicks Off Its Second Day; Iranian President to Address World Leaders at UNGA Today; Zelenskyy to Address U.N. After Major Overnight Strikes; at Least 11 Killed in South Africa Mass Shooting; Oil Industry Opposes Trump's Proposed Diesel Export Ban. Aired 9-10a ET

Aired September 23, 2026 - 09:00   ET

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

[09:00:00]

(COMMERCIAL BREAK)

ELENI GIOKOS, CNN HOST, CONNECT THE WORLD: You're looking at live pictures from the United Nations, where Syria, Iran, and Ukraine are among the

countries set to address the world today. It is 09:00 a.m. in New York. It is 05:00 p.m. here in Abu Dhabi.

I'm Eleni Giokos. This is "Connect the World". Also coming up, Iran's President is set to speak at the U.N. General Assembly. That's one day

after Donald Trump threatens to annihilate his country. Also, Kyiv under bombardment just hours before President Volodymyr Zelenskyy delivers a

speech to world leaders.

Plus, we're around 30 minutes to go before the start of trade on Wall Street. I want to check in on those futures, what's quite interesting is

the NASDAQ really performed phenomenally. While yesterday, as you can see, down two tenths of a percent. S&P and DOW also in negative territory.

Right now, we'll check in on those numbers a little later. In the meantime, in New York, the U.N. General Assembly is kicking off this hour for a

second day, and two presidents deep in active wars, are set to address the gathering and the world. The leaders of Iran and Ukraine could make

headlines a little later when they take the podium.

Now, ahead of that, Syrian President Ahmed al-Sharaa is expected to speak at any moment now. He made history last year when he became the first

Syrian leader to address the UNGA in almost 60 years after toppling the Assad regime in December 2024. Now Syria's President is the first to speak

today.

Other leaders set to speak in the coming hours include Iranian President Masoud Pezeshkian. His visit to New York comes as the U.S. war with Iran

grinds on. Ukrainian Leader Volodymyr Zelenskyy will also step up to the mic today after saying he's ready to meet with Russia's Vladimir Putin.

U.S. President Donald Trump meant how says his administration held what he calls a very good meeting, or all right, with the Iranian delegation at the

U.N. General Assembly during his speech on Tuesday, President Trump said he's weighing two critical options when it comes to Iran. Listen in.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES OF AMERICA: Will a deal be made with Iran that lets them rebuild and create a far greater country than

it ever was before? Maybe one of the greatest in the Middle East, or even the world, or do I annihilate the Islamic Republic and do it quickly.

(END VIDEO CLIP)

GIOKOS: Right, CNN's Chief U.S. Security Analyst Jim Sciutto joins us now from our New York Bureau. He'll be reporting from the U.N. a little later

today. Jim, really good to see you. So, you were reporting from the U.N. yesterday, when President Trump threatened Iran to either make a deal or

face annihilation.

We're expected to hear from Masoud Pezeshkian a little later. In fact, you know, in about a couple of hours.

JIM SCIUTTO, CNN CHIEF U.S. SECURITY CORRESPONDENT: Yeah.

GIOKOS: Give me a sense of what kind of response we're anticipating, because it's important in itself that he's there on U.S. soil.

SCIUTTO: Listen, President Trump, the U.S. President threatened to annihilate his country. He can't not answer that. Now, of course, the

question is, does he take that threat seriously? The sense I've gotten from speaking to diplomats here is that President Trump's threats, and it's not

the first time he's threatened to annihilate Iran.

You'll remember that language back in April of bombing them back into the Stone Ages. What leaders here see is a president who actually is impatient

to end this war and frustrated that he has not been able to end this war, and is stretched and is aware of the limitations on U.S. military resources

in the region.

So, the likelihood that he follows through on that threat not high, and I imagine the Iranian president would have a similar reading, but he has to

respond to it. At the same time, he has directed his advisers to meet with U.S. envoys, and as the president said, they spoke for three hours

yesterday.

So, the Iranian side, at least this part of the Iranian leadership, seems interested in negotiations with the U.S. The trouble is, it's not the first

time for that either, Eleni. And we and we've seen those talks go nowhere. In part because there are, of course, other elements, factions in the

regime that are less interested or even openly opposing such negotiations, digging into continuing to attack forces there and shipping, et cetera.

Has that dynamic changed? Has the IRGC softened its opposition to negotiations with the U.S. We'll only know as these negotiations continue.

[09:05:00]

GIOKOS: All right, Jim. Here's another question, which I think is quite important. I mean, there's a lot of news out that the Iranians and the U.S.

side were engaged in some kind of message sharing through Qatar, and that's quite important. And it seems that there is room for some kind of you know

talks.

But the Iranians have things on the table that they want done, which basically includes unfreezing of assets. What are you hearing?

SCIUTTO: Yeah. Listen, President Trump has not said no to that demand, right? I mean, when you look back at the MOU several weeks ago, there were

financial incentives in there for Iran. I think the you know the proviso was that it would be -- the money would be in some sort of humanitarian

fund, some restrictions so that the U.S. could say this is not money that they're going to use to rebuild their missile program or continue to invest

in their nuclear program.

I imagine there's similar language this time around, but of course, you know the question is, does Iran accept those restrictions? What is Iran's

price to come to the table? And President Trump, even as he was threatening to annihilate Iran yesterday, he has this other side where he says, imagine

how great it would be.

You could become one of the greatest countries in in the region or the world if you make a deal and you know all the business, the trade that we

could do, et cetera. It's a very familiar framing that Trump has with you know half a dozen adversaries around the world.

He's made the same offer to North Korea before he's making that offer to Vladimir Putin right now. The trouble is, none of those players have really

taken up on that offer, taken him up on that offer because they have other priorities, it seems.

GIOKOS: All right, Jim Sciutto.

SCIUTTO: Yeah.

GIOKOS: Thank you so much for that analysis. I know you're heading down to the UNGA later today.

SCIUTTO: Yeah.

GIOKOS: Good to see you. So much on the agenda. Lots of speeches today. All right. So, including Ukraine's President Volodymyr Zelenskyy, he's set to

address the United Nations just hours after large-scale Russian attacks highlight no late-up in fighting more than four years after the full-scale

conflict began.

At least two people were killed and nearly two dozen injured in a barrage of strikes on Kyiv. Railway infrastructure, warehouses, and fuel stations

were among the targets. And at least two people were injured after a strike set light to a Zaporizhzhia shopping center, sparking a 6,000 square meter

fire.

This hour, U.S. Secretary of State Marco Rubio is expected to meet his Russian counterpart Sergey Lavrov. Meanwhile, President Zelenskyy met with

Donald Trump on Tuesday. They discussed the potential for trilateral talks with Russia and a pause in energy infrastructure attacks.

(BEGIN VIDEO CLIP)

VOLODYMYR ZELENSKYY, PRESIDENT OF UKRAINE: We spoke about energy ceasefire. For us, we don't want to go too details. We are ready for energy ceasefire.

Doesn't matter if they will not, if they don't want us to attack their diesel and refineries and et cetera.

So, we are ready, if they will not attack our energy system, our electricity heating system, water supply --

(END VIDEO CLIP)

GIOKOS: Right, Clare Sebastian is tracking developments for us from London. Clare, good to see you. So, we're expecting President Zelenskyy later. So,

there's been a few concrete proposals emerging between the meetings, but there's also a landmark sort of drone defense deal between the two

countries.

Could you tell us more on what this ultimately means?

CLARE SEBASTIAN, CNN CORRESPONDENT: Yeah, we don't have concrete news on this yet, Eleni. But this was something that President Zelenskyy trailed as

he arrived in the U.S. this week that there would be, he said, a new drone deal that was ready to be signed.

Now, Ukraine has drone deals already with at least 10 countries, three of which are in the Middle East, which were signed in the spring, just as

these countries were facing drones and drone attacks from Iran and needed Ukrainian expertise to be prepared to defend against them, and it has been

critical for Ukraine.

We've seen since then a number of NATO countries come forward and sign their own drone deals. The recent -- the most recent of them being Canada.

So, this is critical for Ukraine not only because it helps them with expanding production, these deals often include co-production on the

territory of the partner country.

But because, and this is critical in particular when it comes to the U.S. it shifts the balance of the relationship from the patron-client

relationship that we've seen throughout this war to a partnership. And I think for Ukraine, where we've seen you know support dwindle under

President Trump, the commitment to Ukraine being questioned.

It would be a critical reminder not only of the strength of Ukraine's military, but it would also give the U.S. if they were to share technology

on drones and build Ukrainian drones in the U.S. It would give the United States a stake in Ukraine's military and Ukraine's military success.

[09:10:00]

Would there be a potential quid pro quo, perhaps when it comes to Patriot Interceptors, which we know are a key priority for President Zelenskyy

going into winter? That is not clear at this point, but certainly that will be very much on his mind as he prepares to address the United Nations

later.

GIOKOS: All right. Yes. So, let's talk about what we're expecting in terms of messaging from President Zelenskyy. It's his fifth appearance at the

UNGA with his country at war, ultimately.

SEBASTIAN: Well, look, the reality of what he's facing right now is an intensifying, an escalating, and frankly expanding war. So, I think his

sort of task today, even 4.5 years into this full-scale war, will be to get across that the moment is an urgent one, right? As we've seen in previous

years, he will be you know emphasizing the level of Russian brutality in Ukraine.

We expect, but I think he'll also be pointing to the incidents that we've seen with cross-border incursions, with the sense that Russia is testing

NATO's defenses and increase in hybrid attacks, and why this should convince countries that they all need to do more to support Ukraine, so

that this will eventually end.

I think, in terms of the urgency, winter is a terrifying prospect for Ukraine right now. Russia has threatened to not stop strikes as Trump wants

them to on Ukrainian energy facilities, but to ramp them up, massive strikes, in the words of the Russian Defense Ministry. And you know,

obviously, this comes as it's in a global race for interceptors.

The Patriots are critical, and looking at the prospect of another wave of Russian mobilization, which is something that Ukraine has repeatedly warned

about. So, I think all of these topics will come up. Last year he talked about the AI and weapons and warned about the dangers of that.

So perhaps given that the climate that we're in around AI, we might hear more of that as well, Eleni.

GIOKOS: All right, Clare Sebastian, thank you so much. Right, Chinese Leader Xi Jinping is arriving in Washington this afternoon for his first

U.S. visit in nearly a decade. President Trump will welcome Xi at Joint Base Andrews this evening. Xi arrives with China wielding far greater

economic and technological clout than the last time that he visited the United States, and that was in 2017.

He and Trump have plenty to talk about, from trade and the war in Iran to artificial intelligence, as well as Taiwan. Right, you're watching "Connect

the World", and still to come, what's in the U.S. Justice Department's 11th-hour court filing defending President Trump's White House ban on three

media outlets, including CNN.

And later, we're keeping an eye on the monster storm in the Pacific, Hurricane Polo, where the storm is now, and what people in South West

Mexico can expect. That's coming up just ahead. Stick with CNN.

(COMMERCIAL BREAK)

[09:15:00]

GIOKOS: All right, welcome back. The U.S. Justice Department has submitted a court filing in defense of President Donald Trump's ban that revoked

White House press access for three media outlets, including CNN. This comes just ahead of an emergency hearing today in a lawsuit challenging the ban.

The First Amendment protects press freedom, but the filing argues White House access is quote, a privilege, not a right. It also includes letters

to the three outlets explaining the ban. The letter to CNN said the network's reporting had threatened national security.

We've got CNN Chief Media Analyst Brian Stelter, he's been following this story closely and joins us now live with the latest. Brian, good to see

you. Can you tell us more about why the Justice Department submitted this filing? What's the reason for these letters?

BRIAN STELTER, CNN CHIEF MEDIA ANALYST: Well, this is a requirement by the judge ahead of a hearing that's going to happen in about six hours. The

government had to come up with some rationalization of President Trump's ban. He seemed to do this kind of out of thin air last Friday.

And when he announced it, he cited negative stories. He didn't like the negativity that he was seeing and reading from CNN, MS NOW, and Politico.

The president mentioned nothing about national security last Friday, but in this overnight filing by the Justice Department, the phrase national

security comes up 32 times.

So, the Justice Department, Trump's Justice Department, is trying to suggest that recent articles and reports by these three banned news outlets

have been endangering the public and endangering the country. This is unfortunately in line with Trump's rhetoric from the past 10 years.

He infamously called the press the enemy of the people in 2017. So now he's trying to wrap his ban in a national security blanket. Similarly, kind of

the same way he's talked about the ball room at the White House and that arch that he wants to build in Northern Virginia.

So, he's going to that national security argument, and we will find out later today if a judge buys it or not. But already, I'm hearing many legal

analysts and First Amendment experts saying this sounds like a nonsensical argument, an attempt to cite national security to get what Trump wants.

GIOKOS: Yeah, and in the other words, it's a privilege, not a right. So, given this development, where do you think this case goes next?

STELTER: Privilege, not a right, is going to be a key part of the argument in court later today, because the case law indicates the following: If the

White House, which is of course you know a sensitive area that is controlled by the Secret Service, you have to have a badge to enter, and

that is of course a secure perimeter.

But recent case law has indicated that if the White House allows some reporters onto the White House grounds, then it cannot reject other

reporters based on their viewpoint or their perceived point of view. This is known as viewpoint discrimination, and the case law from past court

cases is very clear on that.

So, the judge, who is a Trump appointee who previously sided with CNN in a 2018 case involving a press pass, the judge is going to have to rely on

that past case law, and President Trump knows that. I think that's why Trump has been attacking the judge on social media and basically predicting

that Trump's going to lose this round, at least.

We'll see if the Justice Department appeals. We'll see how long it goes on for. But in this case, the judge is likely to rule today or in the coming

days, and experts tell me he will likely rule in favor of these news outlets.

GIOKOS: All right, Brian Stelter. Thank you so much for that update. I want to get you up to speed on some of the stories that are on our radar right

now. A mass shooting at a house party in South Africa has left 11 people dead. Police say three gunmen opened fire at a home south of Durban.

Three others were wounded. Gun violence is common in South Africa, which has one of the world's highest murder rates, averaging around 60 killings a

day. The Colosseum in Rome is in rare closure after a worker fell to his death. The worker fell around 10 meters while installing a new lighting

system.

This is the first time the Colosseum has been closed to the public since the COVID pandemic. Hurricane Polo has weakened to a Category Four after

undergoing extreme intensification Tuesday to a rare Category Five. Polo is now a few 100 kilometers southwest of Mexico.

Tropical storm alerts are currently in effect. We've got Derek Van Dam joining us live from the CNN Extreme Weather Center. Derek, good to see

you. So, this is, I guess, a positive development that it's been downgraded to Category Four. Give me a sense of what's going on.

DEREK VAN DAM, CNN METEOROLOGIST: Yeah, there's a really good reason for that too, because there's a process known as upwelling that is taking

cooler water from below the surface of the ocean as this storm kind of sits stationary over the same area, and that cooler water helps kind of

disorganize hurricanes.

This is what it looked like at its peak, and I'm kind of just honing in on this imagery because there's so much to analyze here.

[09:20:00]

It's a beautiful specimen. Fortunately, it is outside of, or at least just offshore of the south west coast of Mexico, and shouldn't bring direct

impacts. Although we're still getting out of rain bands into places like Acapulco and places to the north and west. But this is really interesting.

This is the eye, the most powerful part of the storm, right around the periphery. You can see the darkened areas here. That's actually the shadow

being cast from the other side of the eye as the sun rose on this storm yesterday during its peak intensity. So, here's what I'm talking about the

upwelling.

It has enjoyed very warm ocean temperatures above 30 degrees Celsius in many locations. That's like high octane fuel for developing and

strengthening hurricanes, but when it sits over the same area for such a long period of time, like it's doing right now, you'll start to notice a

change in the shape of that eye wall that I showed you when it was at its peak.

So here it is, the latest satellite imagery. There it is at its peak. Then we go forward in time, and then you start to see the eye actually break

down, become less uniform, less concentric. That is showing signs to me that there is a weakening trend, and indeed, it's no longer a Category

Five, Category Four.

Still splitting hairs here. That's a very powerful major hurricane. But notice that Acapulco really just on the outer fringes of this. And where is

the storm going to go? This is important too. Acapulco not even in tropical storm force warnings. That's because the hurricane force and tropical storm

force winds only extend so far from the center, they don't actually reach the coastline here at least.

It will skirt or at least just skim close to the southwestern coast of Mexico. But then, notice over the next coming days, it's got a bend to the

north and east, potentially impacting the Baja Peninsula, the southern Baja Peninsula. So, we got to keep a close eye on that. There's a large upper-

level influence on where the storm will go, kind of directing its path forward.

The good news is the heaviest rain will stay offshore, but there is, still the outer rain bands helping produce a flash flood risk, and in the

mountainous terrain, some mudslide risk as well. There's a connection here in the southwestern U.S. too. So, here's Polo, here's Mexico. I'm going to

broaden out and show you this water vapor imagery.

Notice that teleconnection all the way into the southwestern U.S. That is part of the southwest monsoon driving in that moisture, and this is

actually bringing a fairly significant flood threat to places across New Mexico. That's the state of New Mexico in southwestern U.S. for today,

Eleni.

GIOKOS: All right, Derek Van Dam. Thank you so much. A CNN analysis of photos and videos is revealing new details about how an I.C.E. agent

shooting of a Venezuelan man unfolded. The 28-year-old man survived, but his lawyer says he did not receive proper treatment for his gunshot wound.

CNN's Yahya Abou-Ghazala reports.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: He shot him from the back.

YAHYA ABOU-GHAZALA, CNN INVESTIGATIVE REPORTER (voice-over): A 28-year-old Venezuelan man was shot inside his car by an I.C.E. agent Sunday in Austin,

Texas. Wilber Rafael Garces Perez survived the incident. The latest in a string of shootings by federal immigration agents firing into vehicles.

While federal authorities have released no details about what led to the shooting, a review of photos and videos offers a window into how it

unfolded. Shortly before 01:00 p.m. dispatch audio captured local law enforcement being notified about a car chase.

UNIDENTIFIED FEMALE: I.C.E. is currently in pursuit of a blue Toyota Corolla.

ABOU-GHAZALA (voice-over): The end of that car chase was caught on camera by a woman who was live streaming while driving. You can hear a siren and

tires screeching in the background.

UNIDENTIFIED FEMALE: Whoa. Oh my God. Holy -- Oh my God.

ABOU-GHAZALA (voice-over): Even though the video is recorded from far away, by zooming in, we can see key details of the incident unfolding. After you

hear the tires screech, you can see these two vehicles at a stop. This unmarked black SUV is being driven by an I.C.E. agent, and across from it

is the blue Toyota, driven by Garces Perez.

The cars are stopped, facing opposite directions. The I.C.E. agent then gets out of his car and runs around its hood. Then at least two gunshots

can be heard.

UNIDENTIFIED FEMALE: Whoa. Oh my God.

ABOU-GHAZALA (voice-over): The audio from the live stream appears to be a fraction of a second out of sync with the video, but around the moments

when gunshots are heard. The agent doesn't appear to be in the path of the blue car. Instead, the I.C.E. agent is standing behind and to the side of

Garces Perez's vehicle.

Photos taken afterwards show these two bullet holes in the rear passenger side window. Garces Perez was shot in the torso, according to authorities.

His vehicle is then seen moving forward slowly, but it quickly comes to a stop. You can see the brake lights are on. The I.C.E. agent chases after

the car and reaches the driver's side.

From this angle, it's unclear what happens next. Video of the aftermath recorded from a different angle shows Garces Perez clutching his shoulder

and the car door handle broken off.

[09:25:00]

Earlier in this video, we can see what appears to be the same I.C.E. agent running around the passenger side of the SUV to the driver's side. He then

approaches the blue car, seemingly while on the phone. On his vest are the letters ERO, as in enforcement and removal operations, a division of I.C.E.

He doesn't appear to be wearing a body cam. On his belt is a dump pouch, an open bag meant to drop gear and expended magazines of ammo into it while

you're shooting. The incident quickly led to protests at the site of the shooting. The attorney for Garces Perez said he was released from the

hospital and taken into I.C.E. custody.

She says he entered the U.S. lawfully and previously held a valid work permit, but she couldn't confirm his current immigration status. The

Department of Homeland Security says that Garces Perez illegally entered the country and had a final order of removal, and the FBI will assist in

the investigation.

It doesn't explain why the agent fired his weapon. DHS has not responded to our request for further information. Yahya Abou-Ghazala, CNN, Washington.

(END VIDEOTAPE)

GIOKOS: Up next on "Connect the World", the start of trading and the business headlines, including one option the Trump Administration is

weighing to help relieve sky-high diesel prices, and why big oil isn't exactly on board. As you can see, it's red across the board for all the

major indices in New York. We'll bring you the opening bell right after this.

(COMMERCIAL BREAK)

GIOKOS: All right, welcome back. I'm Eleni Giokos in Abu Dhabi. You're watching "Connect the World". These are your headlines. Iran's President

will be among the world leaders addressing the U.N. General Assembly today. Iran's leadership has warned the U.S. against any fresh attacks.

After President Donald Trump said in his speech to the UNGA that he faced a decision between annihilating the country or making a deal. Syria's

President was first up at the podium today at the UNGA. Ahmed Al-Sharaa lauded his country's achievements over the past year.

Last year, he became the first Syrian leader to speak at the UNGA in almost 60 years after the toppling of the Assad regime in December 2024. Ukraine's

President Volodymyr Zelenskyy will also address the United Nations as his country comes under a barrage of Russian strikes.

At least two people have been killed in the capital Kyiv, while an attack on a Zaporizhzhia shopping center sparked a 6000 square meter fire. Right,

I want to take you live to Wall Street now. A few seconds away from the start of trade, we're waiting for that opening bell, and First Lady Melania

Trump is ringing the opening bell today.

[09:30:00]

This is a head of a summit that's going to be hosted at the New York Stock Exchange. It's summits around the empowerment of women and the strength

that women have across economies on a global level. Right, so it is all systems go in New York. First seconds of trade, and of course, markets are

just trying to find their feet.

But futures were showing towards a down day today, and that's mostly because there's major concern about where oil prices are going, and of

course, the indecisiveness coming through from the Trump Administration in terms of what happens with Iran as the U.N. General Assembly is underway

right now in New York.

You've got the Dow Jones down three tenths of a percent. That's a loss of around 140 points, and of course, we're again focusing on where oil is

going, and I want to focus on that because there's a big issue happening with regards to big oil. Because in a rare break from the White House, big

oil is pushing back, blasting the Trump Administration over a potential diesel export ban.

Mr. Trump floating the idea of a temporary ban this week amid growing calls from fellow Republicans, diesel prices up more than 80 percent so far this

year as wars in Iran as well as Ukraine disrupt global supplies while Russia and China restrict exports. CNN Business Senior Reporter David

Goldman is in New York and giving us the details.

So, a diesel export ban. I mean, an effort to try and alleviate the pressure on farmers, on consumers. Is it going to have the desired effect?

Because the oil industry is truly pushing back. They've been enjoying these really high margins. Let's call it what it is.

DAVID GOLDMAN, CNN BUSINESS SENIOR REPORTER: That's right. It would at first. Let me explain how it works. First of all, oil up back above $100 a

barrel after several days of declines, and we saw those prices fall below $100. So now back up, and so that might you know lift diesel prices higher

again.

As you mentioned, diesel prices are significantly higher this year. Before the war, they were under $4, and now we are well above $6, heading perhaps

towards $7 a gallon. And this is what the Trump Administration is contending with. And so, how do you get this price down?

Well, what if we just stopped exporting diesel in this country, what would that look like? Well, initially, you would probably see U.S. diesel prices

start to decline, but then what happens overseas? You would start to see those prices go higher because the U.S. exports 18 percent of global

diesel.

And so, if you can't get it from the United States, there's a shortage. Prices go higher. The refiners in the U.S. would produce less fuel, and

then you have higher gas and diesel prices back in the United States. So yes, temporary fix, long term. Everyone seems to agree that this is a bad

idea, Eleni.

GIOKOS: Yeah, I mean, there's a lot going on. I was just looking at how this could also create demand destruction, and that's a really big topic.

But the head of the American Petroleum Institute is saying this, and I quote, restricting U.S. energy exports would only compound the problem,

exacerbate refining challenges and ultimately hurting consumers.

How could a ban hurt consumers in the longer term?

GOLDMAN: Yeah. Well, let's go to the blackboard. We'll see if we can explain it here. There are 5.3 million barrels of diesel produced in the

United States every single day. Now we only use 3.6 million barrels per day in the United States, so that's a difference of 1.7 million barrels, and

that is what goes out to the rest of the world.

But let's just assume that we're no longer getting this 1.7 out. So, then the refiners are going to say, well, wait a minute. Why are we producing

5.3 if we can't export the excess? We only need to produce 3.6, and so they produce less. That hurts refining jobs, and it produces less diesel in the

United States.

Eventually, supply and demand come back into equilibrium, and then prices reach a point where they can start to rise again. That's why this might not

have the desired effect that the Trump Administration thinks that it might have.

[09:35:00]

GIOKOS: Yeah. So, firstly, I love the old black board. It's very 1990 s. It's taking me back to my school days. Secondly, I want to talk about you

know I've been focusing a lot on Oxford economics and some of the, you know, their calculations, and they say there's a $10 rule. For every $10

increase in sustained oil prices for two months, it cuts global GDP by 0.1 percent.

And it really just goes to show how the U.S. economy is going to be impacted. Because from a war that was mentalized just a few weeks, we're

seven months in. We don't know where oil prices are going. Paper cost versus what we see on the futures market very different. I mean, there's a

lot of dynamics that are playing out at the same time.

GOLDMAN: That's right. Yeah. Well, I got my cardigan. I got my blackboard. We're cozy and we're learning today. Yeah. That's a really good stat that

you cite, right? Because if we have, you know, whoops, that was the wrong button, and also that one. There we go.

If we have, you know, a $10 increase in oil equals 0.1 in GDP.

GIOKOS: Love it.

GOLDMAN: Well, there you go. I mean, that makes a significant difference because we're up about 30 bucks, maybe even $40 at some points. This means

that GDP has a lot of weight that's holding that down, you know, we're talking about all this massive expansion that's going to happen in the U.S.

economy, right?

That's going to help us grow out of the debt problem. Remember, we were talking about that with the bond market a few weeks ago. Well, if oil

prices continue to rise, this country runs on energy, and the rest of the world does too. This becomes a significant problem. To your point, it's

just not something that the global economy can withstand for much longer.

GIOKOS: Yeah. So, David, I could watch you all day on that blackboard. I'm loving this. You brought the excitement back into economics. So, thank you

so much for all those explainers. It's brilliant. I'm sure the audience agrees with me. All right. So, we're going to go to a very short break.

More of David, I hope in the next few days on CTW. Don't go anywhere.

(COMMERCIAL BREAK)

GIOKOS: All right. So, on CNN's culture and lifestyle series "Seasons", hosted by Laura Jackson, we're exploring what it means to have good taste

in the time when what we buy is shaped by social media and viral trends. Laura meets an award-winning British designer who celebrates what you can

see, touch, and feel. Take a look.

(BEGIN VIDEOTAPE)

LAURA JACKSON, CNN HOST: Aren't these amazing? Oh my gosh. Look at this. What is it?

[09:40:00]

JACKSON (voice-over): Step into the material world of Tom Dickson.

TOM DIXON, DESIGNER: We're playing with things like two-way mirror to get all of these extraordinary reflections, which make these things look really

handmade. But actually, these are industrially produced. If you go in there, you'll kind of see what I mean.

JACKSON: Hello, testing, 1, 2, 3.

JACKSON (voice-over): Tom's love of experimentation shapes every piece in his luxury interiors company. It's the reason why he got into making

furniture in the early 1980s.

DIXON: I was a bass player in a disco band.

JACKSON: No.

DIXON: So, then I broke my arm in a motorbike accident, and then I started making things for fun.

JACKSON (voice-over): His minimalistic designs, often made out of raw, unprocessed materials, soon became cult classics.

JACKSON: And you said that you weren't trained, so is taste. Do you think something that you can learn, or is it something that you're born with?

That's a big question.

DIXON: I think it's something which moves and evolves. So, it's really important not to get locked into this kind of insane speed of consumption

that is happening in fashion and electronics and just pop culture generally, because the stuff that you have for your home has to have a

degree of permanence about it.

JACKSON (voice-over): The global flagship is also home to a studio and restaurant.

DIXON: What's great about the restaurant is that you're getting 2000, 3000 people a week, maybe up to 5000 people a week coming through and sitting

with you for two hours. Try doing that in retail. Impossible, right? And then they're not just experiencing the look of the furniture, which you'd

get on Pinterest, but they're experiencing also the comfort.

They're experiencing the acoustics, experiencing the smells and the textures of our world.

JACKSON: These are classic Tom Dixon for me.

JACKSON (voice-over): Across luxury, more and more customers are seeking out experiences that could help them connect emotionally with a brand.

JACKSON: What's your favorite thing then? I mean --

DIXON: My favorite thing.

JACKSON: Yeah.

DIXON: Oh well, that's impossible to say.

JACKSON (voice-over): An alternative to the e-commerce convenience of modern life. It's why for Tom, good taste isn't just about the things you

buy, but the memories they create.

DIXON: That's interesting because it's so simple, right?

JACKSON: Yeah.

DIXON: And you noticed it, which is great. It gives a reason for people to get away from their screens and experience the real world. And then you

layer that with, you know, the tastes and the smells and the sounds. It's what people are increasingly going to need.

(END VIDEOTAPE)

GIOKOS: All right. So, after a short break here on CNN, it is "World Sport". I'm back with more "Connect the World" in 15 minutes. Don't go

anywhere.

(COMMERCIAL BREAK)

[09:45:00]

(WORLD SPORT)

[10:00:00]

END