This implies that England wanted war. That is totally belied by the facts. Three parties wanted war: Germany, Russia and especially Austria, that did everything in its power to avoid a peaceful settlement. Even so, Germany could have avoided Britain's involvement (Britain, with big troubles of its own in Ireland, absolutely did not want to be involved in an European war) if they had kept their paws off Belgium. Oil was certainly a factor, but one has to remember that until well after the war, most energy generation and most transportation by land and sea was powered by coal, of which all the belligerant powers except Italy had far more than enough. Neither of the two world wars was "about" oil; they both were about the Austro-Prussian itch to dominate the known universe.