Of course it could and sounds reasonable because how magnetic fields fluctuate, as long proven. The Earth experiences such fluctuations.
However, math on white boards can give theory to anything providing the equations work. I am just a layman who has no physics background, but I get so tired of the ever changing theories. What happened to String Theory? Are there proven examples of Dark Matter or Dark Energy? No, they are still just theories.
I recently read scientists in the Netherlands? claim that gravity is caused by electro-magnetism interacting with certain sub-atomic particles. Another unproven theory.
The theory that really cracks me up is how the physicists claim the super-heated and super-condensed basketball (through reverse math of universe expansion) could just pop into existence, and then do it's Big Bang. Does anyone remember the theory of the universe expanding to a point until gravitational and other forces would make it contract back to the basketball and start anew? Now it will expand forever? May be, but remember, theoretical physics is just that - theoretical!
Practical physics I believe if repeated with same results. Simple examples: White light and how a simple prism can divide it into the complete color spectrum. Then there is the Doppler Effect. I also believe Red Shift is real.
What do I know? I barely passed algebra.