Obama Nobel Peace Prize? How the?

Ok, so I may not be the most intellegent man in the world, but did President Obama just receive the peace prize "before" he was able to establish any peace in the world? I mean, c'mon people. Nothing that he has promised, as far as peace goes, has any merrit nor has it bore any fruit. There has certainly been no evidence to warrant Barrak Obama winning the Nobel Peace Prize. Giving Obama the Peace Prize is like giving a School Teacher the Navy Cross when he/she has never been in the military, it simply makes no sense.