I found this article insightful regarding Al Gore and the prize. I'll post a few sections of the article, followed by the link:
The awarding of the Nobel Peace Prize to former Vice President Al Gore is a political statement by the European bourgeoisie about the policies of the Bush administration and the politics of the United States.
[...]
The political significance of Gore’s selection is clear, given that he is still an active figure in American politics, widely mentioned as a potential presidential candidate, who has on occasions attacked both the foreign and domestic policies of the Bush administration. At the very least, the award can be taken as a signal from the Norwegian political establishment—from which the selection committee is chosen—that it hopes for a Democratic victory in the 2008 presidential election.
[...]
Vice President Gore, however, is hardly to be identified with the cause of “peace.” One of only ten Senate Democrats who voted for the first US war against Iraq in 1990, he was second-in-command of an administration that dispatched US troops to Somalia, Haiti and Bosnia, financed death squads in Colombia, bombed Iraq, Afghanistan and Sudan, maintained an economic blockade of Iraq that caused the death of an estimated 500,000 Iraqi children, and waged a devastating air war against Serbia.
The Nobel Peace Prize has little in common with the similar prizes awarded to leading scientists and literary figures, whose recipients are being honored for an entire career, or a signal achievement, usually decades old, that has stood the test of time. Because of the worldwide prestige and visibility given the Peace Prize, the choosing of its recipient has become a major political event, signaling those issues, events or countries that are of greatest concern to the European ruling elite.
The method of selection, laid down in the will of the billionaire inventor of dynamite, Alfred Nobel, ensures that the award will be a political decision reflecting a broad consensus in the European bourgeoisie. While the other Nobel prize winners are selected by committees of experts in the various fields, such as the Swedish Academy of Science, the recipient of the peace prize is picked by a committee chosen by the Norwegian parliament, its five members selected on the basis of party strength in that legislative body.
[...]
Two concerns seem evident in the selection of Gore and the Intergovernmental Panel on Climate Change, a UN organization, as the joint recipients of this year’s award: a determination to elevate the issue of climate change, and concern over signs of increasing political, social and economic instability in the United States.
Full Article