Here is another Take on why Obama won the Nobel Peace Prize. This is another more serious look than Saturday Night Live (SNL), Reason TV and Perfunction.
The crux of the argument is that it comes down to publicity. They wanted it, they thought giving the prize to Obama would get them it, and it has. Publicity makes more sense then political manipulation (see also http://www.bermanpost.com/2009/10/obama-receiving-nobel-peace-prize.html), though you would hope that groups of that nature would be above that.
"We have a more cynical take on what they were thinking about when the committee made their choice.
If the Nobel committee had chosen one of the other nominees, like Handicap International and Cluster Munition Coalition, would anyone still be talking about it? No.
They chose our President for the oldest reason in the book…Publicity."