Oil Rises to a Record

Crude oil rose above $129 a barrel in New York for the first time after billionaire hedge-fund manager Boone Pickens said that oil will reach $150 a barrel this year, WorldWatch suggests that Boone Pickens practice playing golf instead of SPECULATING on how crude will end the year, its SPECULATORS like Boone Pickens and Goldman Sachs Group Inc that are undermining world economy with inflamatory comments regarding virtual crude prices.

All across the board oil demand has declined at an average month rate of 2% to 3% worldwide, new energy sources are now being developed , the car industry itself has shifted towards a cleaner energy like hybrid cars, sales alone in the US has increased over 50%, there is now a waiting list of more than one month for the Toyota Pirus, in the US alone...

Brent crude oil for July rose to $127.11 a barrel on London's ICE Futures Europe exchange. The contract touched a record $127.49 today.
Crude oil for June delivery rose to $128.87 a barrel at 9:25 a.m. on the New York Mercantile Exchange. Futures reached $129.31, the highest since trading began in 1983. Prices are 98 percent higher than a year ago.
Oil prices also rose because the dollar weakened against the euro, prompting investors to buy commodities as a hedge against the currency's decline.

Is Boone Pickens a parrot for Goldman Sachs Group line on prices !!!