Axios

Seven & i Holdings Co, the 7-Eleven operator, said Thursday it would be buying convenience stores and petrol stations from Sunoco LP, the major gasoline refiner, according to AP. Sunoco is reportedly aiming to focus more on its fuel supply business.

The deal: The deal totals about $3.3 billion, and includes an agreement that Seven & i will buy gasoline from Sunoco for 15 years. 7-Eleven will be getting about 1,100 stores along the East Coast and in Texas. Sunoco shares have soared since the sale. The sale is expected to close by Q4.

Why it's happening: Two reasons. First, the bulk of Seven & i's operating profit comes from convenience stores, or about 3.29 billion USD (364.4 billion yen) in the year through February, and the Japanese retailer sees "opportunities" in potential growth in the convenience store market. Second, Seven & i has said it wants to increase its number of stores in the U.S. to 10,000 by the end of 2019.

Why it matters: The deal would be the biggest for Seven & i, which most recently acquired 79 stores from CST Brands Inc.

Data: U.S. Energy Information Administration Monthly Energy Review; Chart: Lazaro Gamio / Axios

Want the high-level view on U.S. energy consumption? The U.S. Energy Information Administration has you covered. It's out with data showing total consumption ticked up slightly last year.

• Fossil fuels: They still rule the roost, accounting for 81 percent of total consumption in 2016, which is slightly less than 2015 and down from 86 percent in 2005. Petroleum and natural gas consumption both climbed last year, but that was more than offset by coal's decline.
• Renewables: They saw the largest boost in consumption last year as wind power generation rose by nearly 20 percent and solar output climbed a lot as well.
• Nuclear: Consumption of nuclear energy rose 1 percent last year.

Want a really, really high-level view? Axios pulled years worth of EIA data into the chart above on U.S. energy consumption going back a quarter century. That downward staircase at the bottom illustrates how coal has lost market share at the expense of gas and renewables.

There have been four incidents of piracy off the coast of Somalia in the last month, per the NYT, including the first seizure of a large commercial vessel since 2012. This is a surprising resurgence, as piracy off the coast of Somalia had dropped dramatically to 15 incidents in 2015-2016 compared to 237 in 2011, per the UN.

Why it matters: This could wreak havoc on the economies of the area, as well as whichever countries have ships traversing the waters at risk here. 90% of the world's commerce travels by sea and previous attacks off the Coast of Somalia "threatened the free flow of international commerce and energy supplies," according to the State Department.

The UN Navy's Fifth Fleet, which commands regional antipiracy, said it was "monitoring the situation."

Why the uptick is happening: Analysts told the NYT, "a number of factors had driven the resurgence in piracy, including drought, famine, corruption, a surge of smuggled weapons and the influence of the Islamic State." The decrease came after a new government was installed in Somalia in 2012 that prioritized stopping piracy. Anti-piracy policies, including prosecuting pirates and installing armed guards on commercial vessels, had also helped.

The great thing about the endless speculation on carbon taxes is that everyone is right. They're alive and dead at the same time, which brings us to...

The latest: The Washington Post broke a big story yesterday with a report that the White House is weighing a carbon tax and a value-added tax as officials search for revenue in wider tax code overhaul plans.

The fallout: That set off a ton of follow-up stories, but the White House quickly tried to settle things down. "As of now, neither a carbon tax nor a VAT are under consideration," deputy press secretary Lindsay Walters said Tuesday afternoon.

• This was the second time in the last few weeks that the White House has sought to put the kibosh on the idea that a carbon tax is under serious consideration.