The Nobel Peace Prize committee is in a good mood. Now might be a good time to ask them if you can borrow the car or stay out past curfew.

The Nobel Committee announced in Oslo that it has awarded the annual peace prize to Barack Obama, just nine months into his presidency, “for his extraordinary efforts to strengthen international diplomacy and cooperation between peoples.”

The award cited in particular Mr. Obama’s effort to reduce the world’s nuclear arsenal. “He has created a new international climate,” the committee said….

“Only very rarely has a person to the same extent as Obama captured the world’s attention and given its people hope for a better future,” the committee said in its citation. “His diplomacy is founded in the concept that those who are to lead the world must do so on the basis of values and attitudes that are shared by the majority of the world’s population.”…

“We are not awarding the prize for what may happen in the future, but for what he has done in the previous year,” Mr. Jagland said. “We would hope this will enhance what he is trying to do.”

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