Obama did nothing to win the Peace Prize except get elected as the first African-American President with a Muslim middle name. At no time did he do anything to promote world peace. Now that Obama seems to be kinds sorta making war on Libya, Michael Moore has asked Obama to give it back.
I don't see why he should, nobody else ever does. This is from a 2009 post of mine, The Peace Prize As The Special Olympics Nobel
Even before the age of affirmative action, the Nobel Peace Prize has always been the Special Olympics of the Nobel World. You don’t have to achieve peace, you just have to mean well.
Closer to our own time, we read that Good Friday Agreement of 1998, (basically a surrender) after some more violence George Bush brought peace to Northern Ireland once more in 2007 and if you’re interested, Hillary Clinton is in Belfast right now, bringing it yet again. bringing peace to South Africa—which is not notably peaceful.
Obama's performance in the Peace Stakes looks pretty good in comparison.