Thanks and don't worry, there are many ways of saying peak oil without using actual label we've given in. I think the way you described the situation is quite good and understandable. Personally I like "oil depletion".
I have been making a point of not using the phrase "Peak Oil" when talking to people about peak oil because the concept has (unfortunately) been looked upon by some as akin to conspiracy theories or other ideas that are promoted by the lunatic fringe.

I have been making the point, forcefully, that high and rising energy prices are most likely here to stay, so we should start figuring out how to adjust and anticipating what the likely consequences are. Giving people the correct information (and popping the illusions) and letting them reach their own conclusions is often more persuasive than just presenting the entire argument in one go, because the entire argument and its consequences are too big a leap for many people to take.