He conned, sorry, persuaded movie magnates to back the filming of what was considered unfilmable.

I think that in itself would deserve an Oscar - for whether you like or loath the 3 films that resulted - his efforts over 7 years are there on film. And just like the book is/was over many years - out there to be shot at or to be enjoyed and admired. I am in the latter camp and although I am not sure if Oscars are worth anything - they would certainly be worth a lot less should Peter Jackson's creation not be rewarded this time.

Perhaps if he wears a nice frock?