Why does President Obama deserve to win the Nobel Peace prize? Because he ran a fantastic campaign, won the Presidency, and STOPPED the continuation of the Bush reign of terror (via McCain/Palin). That alone was a step forward for peace and diplomacy large enough to deserve the prize.
Invading another country, no matter how despicable the leader, based on lies, committing war crimes, including torture, during the running of that war, and the many other crimes of the Bush Administration were committed by the most powerful nation on earth, and a nation that has been the beacon of peace and freedom since its inception. That has been the greatest threat to peace and freedom for the world that we have faced in recent times. Obama stopped that by winning the Presidency.
America is now back in the hands of a sane leader, and peace and freedom have a much brighter future now – way to go Barack!!
Dave