The Climate Prediction Center's monthly El Niño/Southern Oscillation (ENSO) discussion outlines the current status and expected future development of tropical Pacific conditions, the waxing and waning of El Niño or La Niña events and the neutral periods in between. There is a more general discussion of current conditions on their web site. It also provides historical information about previous El Niño and La Niña events and their relations to U.S. climate.
The National Drought Mitigation Center discusses the factors that go into predicting drought and specifically the connection between El Niño and drought.
NOAA's Climate Prediction Center monitors several global climate phenomena that can help predict drought and other weather extremes, such as El Niño/La Niña, the Madden/Julian Oscillation, atmospheric tele-connections, and blocking.
The Center for Research on the Changing Earth System studies decadal climate variability, looking at long-term fluctuations. The Centers web site discusses the Dust Bowl as an example of an event caused by decadal climate variability.
The Climate Impacts Group at the University of Washington provides guidance on how to incorporate the effects of the El Niño/La Niña forecasts into operational decision support systems.