So the basic story looks like this: in the decades before the Civil War, the economic value of slavery explodes. It becomes the central economic institution and source of wealth for a region experiencing a boom that succeeded in raising per capita income and concentrating wealth ever more tightly in the hands of the Southern planter class. During this same period, the rhetoric of the planter class evolves from an ambivalence about slavery to a full-throated, aggressive celebration of it. As slavery becomes more valuable, the slave states find ever more fulsome ways of praising, justifying and celebrating it. Slavery increasingly moves from an economic institution to a cultural one; it becomes a matter of identity, of symbolism—indeed, in the hands of the most monstrously adept apologists, a thing of beauty.from the article The New Abolitionism.
And yet, at the very same time, casting a shadow over it all is the growing power of the abolition movement in the North and the dawning awareness that any day might be slavery’s last. So that, on the eve of the war, slavery had never been more lucrative or more threatened. That also happens to be true of fossil fuel extraction today.