I'm sure Brenden is telling you that the peat bogs are being dug and destroyed and they are not a renewable resource. Peat bogs are home to some truly unique plants and animals (including all the carnivorous plants) and have taken thousands of years to make. But the bigger problem is that the tropical peat bogs are being drained by countries attempting to find more farm space and global warming is melting the northern peat bogs. Peat bogs are major carbon sequestration areas in the world - that carbon is being re-released into the atmosphere with the draining and melting. That's the part you should worry about.
Our peat comes from Canada. Only .02% of reserves are being mined. But even that releases enormous amounts of carbon into the atmosphere. Don't give up your peat in small projects like starting Drosera seeds and planting your carnivorous plants but use it sparingly. If you want to amend your yard, buy some compost.
Daisy