The Nobel Peace Prize became a joke ever since it was awarded to Yasser Arafat, Shimon Peres and Yitzchak Rabin in 1994 for the ill fated "Oslo Agreements". The Norwegians continue to prove that they have a poor sense of humor by awarding the prize to Mr. B.O. I am not laughing.
As the Hebrew saying says, a lie doesn't have legs. Sooner or later the lie will be revealed. Obama's rhetoric is out of touch with reality. Chances are that it will bring much more bloodshed than peace.
Update: More from some jbloggers:
The Weekend Roundup - The Nobel Peace Prize Jumps the Shark
This isn't a joke - Obama wins Nobel Peace Price
Declining - the prize