Comedy Central's "The Daily Show" correspondent John Oliver told ABC News' Amy Walter and Rick Klein that President Obama has lost his "new car smell" for the 2012 election.

He was a guest on the ABC News/Yahoo News Democratic National Convention live show. When asked what Obama's smell was now he joked, "wet oak."

Oliver was critical of the Obama campaign's decision to move the president's Thursday night convention speech from the Bank of America Stadium to the Time Warner Arena because of the possibility of bad weather.

Oliver, who is British, compared the event to the Queen's jubilee this summer.

"At the Queen's jubilee, we had a 1,000 person flotilla and it just rained and rained on it," he said.

He said that there was no way the Queen, who is 86 years old, could handle the rain and Americans couldn't.

"There is nothing funnier than a wet queen," Oliver said. "We didn't cancel it. We made her get wet. If the queen can do it, so can [Obama]."

Click HERE for live streaming coverage of the Democratic National Convention.