New Zealand - Integrating Biofuel

New Zealand- Integrating Biofuel

“Growth means change and change involves risk, stepping from the known to the unknown”[1]. Change is a necessary truth that the world must accept in order to keep up with the ever changing economy. New Zealand has an advanced economy that is in moderate need of change. However, how do we know what is the best way to help stimulate the economy? New Zealand has a lush agricultural industry that has yet to reveal its true potential. Agriculture is a major resource for producing bio fuels. If New Zealand integrates its extensive agriculture production with alternative energy, their economy will greatly benefit from the consumption and exportation of bio fuels. This would be a significant change, not only for the economy of New Zealand, but also, for the environment as well.

New Zealand is a country comprised of many islands and is located in Oceania. It is surrounded by islands in the South Pacific Ocean and just southeast of Australia, which is its closest neighbor. Otherwise, the next closest country or territory would be New Caledonia, Fiji and American Samoa along with several other islands; although, all of them are well beyond 1,000 miles away. The territorial size of New Zealand is 103,483 sq mi. As of December 2010 the recorded population of New Zealand is 4,393,500 people. The political system consists of Parliamentary democracy and Constitutional monarchy.The Monarch is Elizabeth II, Governor General Jerry Mateparae, and Prime Minister John Key. New Zealand’s form of law is the common law system. “Judges and judicial officers are appointed non-politically and under strict rules regarding tenure to help maintain constitutional independence from the government. This theoretically allows the judiciary to interpret the law based solely on the legislation enacted by Parliament without other influences on their decisions”[2].“New Zealand has a modern, prosperous and developed market economy with an estimated gross domestic product (GDP) at purchasing power parity (PPP) per capita of roughly US$28,250”[2]. New Zealand is heavily dependent on international trade, particularly in agricultural products. “Exports account for 24 percent of its output, making New Zealand vulnerable to international commodity prices and global economic slowdowns”[2]. Its principal export industries are agriculture, horticulture, fishing, forestry and mining, which make up about half of the country's exports. Its major export partners are Australia, United States, Japan, China, and the United Kingdom.Their major imports are oil, machinery, vehicles, electrical equipment, iron, and steel. Its major import partners are: Australia, European Union, China, United States and Japan. New Zealand has a low to medium country risk in doing business their. New Zealand’s currency is known as the New Zealand dollar or more commonly known as the “kiwi”. It also circulates in the