Fascinating...I have little doubt this was part of the impetus behind _Ruled Britainnia_, a Turtledove alt-history in which the Second Spanish Armada successfully invaded England, and the story is told from Shakespeare's perspective as the main character involved in the interactions of new plays of his and the brewing political unrest.
It's one of my favorite books, if only because much of the conversation is allegedly in free verse and I end up unable to speak correctly for 10-30 mins after a good reading session.
Oxford had nothing to do with _Richard II_ and very little to do with the Essex rebellion. He was on the jury that condemned Essex and Southampton, along with many other noblemen. He had also tried and failed to get Southampton to marry his daughter years earlier. Otherwise, his only involvement in court politics at that time was the occasional letter to Robert Cecil asking for various forms of aid (with no apparent success).
It's one of my favorite books, if only because much of the conversation is allegedly in free verse and I end up unable to speak correctly for 10-30 mins after a good reading session.