The El Nino disrupts existing ocean currents and shifts a lot of heat to the Arctic. That heat is all dumped into space, but on the way it melts the Arctic ice.
Here we have the Arctic ice volume the lowest ever. If you just like to extrapolate a straight line, with no physics, then you can safely predict massive gloom and doom. The entire Arctic will ice-free soon and the oceans will boil. We Canadians will have beautiful weather, but be boiled slowly like a frog.
I, personally, would like that death, by hot and beautiful summers, but it won't happen. There is only so much heat energy in the world, and that is bleeding out like a stuck pig. We will pay. :)