With only a few months left in office, Schwarzenegger shared with Jay Leno that his political aspirations aren't over.
But the U.S. Constitution prevents foreign-born citizens from becoming president. The change would be a long, tough road. Constitutional amendments must be approved by a two-thirds majority of the House of Representatives and the U.S. Senate, plus be ratified by three-quarters of state legislatures.
An online "Arnold for President" petition has garnered fewer than 1,200 supporters.
The next best thing may be to work for a President. While Schwarzenegger is a Republican, his "green" credentials could make him attractive to a Democratic administration, like Obama's.
Friday, Schwarzenegger lauded a Chinese company for locating its North American "green" products headquarters in L.A.
"As I've always said, what is good for the environment is also good for the economy," said Schwarzenegger.
"I can't reveal my sources, but we're getting indications that within Schwarzenegger's own camp that he's very interested in having more national visibility," said Prof. Bruce Cain, director of the University of California Washington Center.
Of course, the bodybuilder-turned-actor-turned-politician could go back to Hollywood, where Schwarzenegger could actually be president -- in a movie.
Like so many other high-profile figures these days, Schwarzenegger may very well delay his next political position for a while to write a book about his days in Sacramento. We all know how lucrative that has turned out to be for people like Sarah Palin.