oh ar!
it could be, but that red loopy wire is surely some kind of heating element, by the looks of the text next to the yellow zig zags they seem to be resistors, and if it was a variable resistor it would surely have an arrow onn the end of the ajoining wire?
( SecretStoat The speaking clock says:, Sat 29 Oct 2005, 20:50, archived)

heater or inductor.
Or a close approximation to a circuit diagram drawn by someone more used to drawing Futurama.
( Spaniels Ears, Sat 29 Oct 2005, 20:51, archived)