Our Newfoundland climate is a lot more like the UK's than Florida or the Southern US (home of real quality fat wood, throughout the whole stump and beyond). Must be the heat, 'cause it ain't the humility...
I've found that the pines here - White, Red, Jack, and Scot(ch) Pine - don't accumulate resin in the stump or stem, but instead it gathers in knots and the base of branches.
To find Fatwood here, I cut off a dead Pine branch as close to the stem as possible, the lowest on the tree and largest diameter available. The first couple inches contain the good stuff......