Which is really what it boiled down to. Without the South, the North lost it's economic engine.
Wait, wut? South was primarily agriculture. Worse, they relied on three cash crops: cotton, tobacco, and sugar. 84% of their population was directly tied to agriculture. Admittedly, they did have 70% of total US exports, but it was a much more fragile hold than they imagined. Worse yet, they stopped shipping to Europe to try to "force" them to recognize the South, shooting themselves economically in the foot. They tied their money to cotton, and when Britain started getting their cotton from Egypt and India... It was all over, their currency was junk. Combined with a blockade of international trade and industrial products from the North, it was amazing they lasted as long as they did. Their transportation networks were crap. Their government often financed themselves by grabbing what they wanted, giving the owner a worthless certificate, and not paying. Combined with poor regulation on their banks, speculation went nuts.
The largest strategic asset that the CSA ever possessed was the incompetence of Northern commanding generals. It has exactly one strategic resource, cotton. Wasn't enough to save their wretched hides. If you only have one staple resource, your economic engine is very fragile regardless of size. Competition, changing demand or technology can crush it overnight.
Which segways neatly... Gas is Russia's hold on Europe. If we can circumvent that hold, we can greatly diminish Putin's foreign power without a single bullet being fired.