You can place outgoing calls with Google Hangouts now!

Although there are a lot of articles that say you can't (because it's not obvious and Nikhyl Singhal indicated it was removed).

Here's how:

  1. Create a Google Hangout with any user (I created one with my personal Google account from my business Google Account).
  2. Select the "Video Call" option.
  3. Select the "Invite People" icon, which appears in the upper left of the Hangouts popup.
  4. Select the "+Add Telephone" option.