The point is that Norway does not hand out the peace price - an independent committee does.
And its Oslo, not Geneva.
And its Oslo, not Geneva.
However, you are incorrect on your first point.
Nobel Peace Prize is decided by the Norwegian Nobel Committee, a group of five members appointed by the Norwegian Parliament (Storting).
This is different from the other Nobel Prizes, which are decided by Swedish institutions and awarded in Stockholm.
(I am fully aware of the setup of the committee, hell, Norway is a small country so i've even met a couple of the members.)
Obama was a stupid choice, you'll get no argument from me there.
But let's hear it from the horse's mouth..
The secretary of the Norwegian Nobel Committee, Geir Lundestad, wrote in his memoir that the decision “did not achieve what the committee had hoped for”, and that “in hindsight the argument … was only partially correct.”