Will skin colour play a role in US Presidential nominations/elections?

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I am not American, but I find their politics quite something to follow, as entertainment as well as food for thought. I have watched some of the debates so far as well as speeches being made by the Democratic pack. I want to believe that Barack Obama and Hilary R Clinton are the most favoured as well as the most knowledgeable (in respect of US politics and issues, of course!). However, I find Barack Obama more open, frank, honest and even more articulate. He seems to have edge over all the Democratic party's presidential nominees. He is intelligent. But, appreciating US racial role in politics, do you think Barack Obama stands a fair chance of being nominated as a presidential candidate for the US presidency? And if he were to be nominated (beating Hilary Clinton, of course), would he have a fair election against a Republican candidate?