Renewables and batteries are the way NZ can go.
Modernising much of the existing generating system will help too.
This oil shock will boost public transport, where I live we already have electric buses.
Road will give way to rail for spending, a thought that terrifies oil industry execs.
If we get rid of Comalco our aluminium smelter we would have another 20% of power for our national grid to use, this buys us time to make other structural changes (more wind/solar, upgraded hydro and thermal, increased insulation in houses, energy efficient appliances).
That elephant is likely many decades away , and perhaps we will then have safer micro reactors by then.
Oil in some sort of (vegetable oils) will be used in agriculture because of high workloads, but that may change too.
As for "private" industry being better....ROTFLMAO, they will use shell companies etc etc etc to make sure that they get the profits, but loses will be met by the tax payers. US industry in 3rd world countries have an appalling history of safety violations, destruction of the environment , and rapidly withdrawn leaving an expensive mess behind.
In one of the Australian mines their BIG trucks are electric, the empty truck goes up the hill on battery power, a loaded one comes down and generates electricity, the excess is put into the grid, clever, no fuel costs and it makes them money by selling the power.