We actually do have peat resources in the southern USA. To my knowledge they are not utilized to the degree that they are in Canada.
An interesting fact is that the diverse ecosystems that we have in some of our swamps would not be viable without natural processes that also destroy some of the peat. Forest fires are an example, the fires often happen due to natural processes such as lightning strikes (fires also happen due to man, let's be honest). The sphagnum peat bogs that accumulate peat periodically have forest fires which kill trees, but open up areas that can be colonized by better stands of sphagnum moss, pitcher plants, sundews, Venus fly traps, etc. Without the fires these ecosystems would develop more slowly, or might vanish. The fires remove a certain amount of peat from the surface when they happen. I recall a big fire in our Okefenokee swamp 5 or 6 years ago, it burned some areas but not the whole swamp, and the burned areas bounced back very quickly.