I watched the video dozens of times and noticed the clouds move from the right to left while the object remains stationary. It's a very windy day as well. You can see the trees blowing around in the last 3 seconds of the video. I would advise people to go outside and release a balloon on any given day then film it. See how fast the balloon moves out of site. No balloon would sit in the same area like this.. especially on a windy day. With that said I think we can rule out balloon.

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Correction the date of the video was actually June 6, 2012. I made a mistake when starting this thread.

I would someone to demonstrate how a balloon can hover in one place for such a long period of time without a string or propeller.