US should ditch 'outdated' oil export ban: Harvard paper
Doing so will add US$23b to the economy by 2030, create jobs, provide country with added clout overseas, it says
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THE United States must lift an "outdated" ban on oil exports to take full economic and geopolitical advantage of its hydraulic fracturing boom, according to a study by Harvard Business School and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 US$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.
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