The word "peak" normally implies that an industry is cyclical - which to be honest energy and utilities normally have a cyclical boom and bust pattern. But I agree that this use of the word peak is misleading to someone that has heard of PO.

To do a little word play:

Has Oil Piqued?
piqued (adj): a feeling of anger and annoyance, especially caused by damage to your feeling of pride in yourself...

I'm also waiting for someone to use the phrase "peak Turkey" or "peak Pig" on some discussion board seriously talking about the inevitable decline of our industrial carnivorous animal farming practices.

I like "Peak Pork" better!  ;-)
Hey now!  I did say "Peak Food" (production) the other day in a post.

 Though what I was talking about was the actual Peak in Oil Production would mean a Peak in our Food Production in as far as the fact that most food we eat is heavily dependent on OIL.   But maybe Peak NG Production will hit our food production faster.