The United States must lift an “outdated” ban on oil exports to take full economic and geopolitical advantage of its hydraulic fracturing boom, according to a study by Harvard Business School and Boston Consulting Group released on Wednesday. Lifting the 40 year-old ban imposed after the Arab oil embargo and easing restrictions on liquefied natural gas export terminals would add $23 billion to the economy by 2030, create tens of thousands of jobs, and provide the United States with additional clout overseas, the paper said. “Our energy resources have given the U.S. important new diplomatic tools that can aid allies and counteract the ability of unfriendly countries to use oil and gas access to achieve political aims,” according to the research authored by Harvard Business School Professor Michael Porter and Boston Consulting Group’s David Gee and Gregory Pope. “Today, the ban on crude exports … is reducing market […]