Haha, that’s a good question.
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EDIT: Sam, a few posts below pointed out i completely read the graph wrong which actually cocks up my who theory! It seems likely now that a temp of 35+ would cause a stressful oxygen level. BUT this still true....wouldn`t a temp of 35oC+ be stressful to most freshwater fish anyway!! I will leave my error in the post so as not to disturb the flow of the thread.
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The solubility of a gas decreases as the temperature increases. So you are quite right, when it’s hotter the solubility of oxygen in water decreases. Now, the question arises, is the solubility decreased that much that it is necessary to add additional oxygen to the tank for the fish in the form of an air stone? If this is true, surely the tank must be at such a high temp that it alone is distressing to the fish?
The graph i found on the web below shows that at 30oC there is still 14.5mg/l of dissolved oxygen. I may be wrong, but i am sure O2 levels of about 5mg/l become stressful to fish, so the temperature would have to be very high.
I am just speculating! I have had no experience in such a situation, but that’s my belief without a test to prove it.
Regarding your next point, having a CO2 and O2 rich tank.
Of course, there is only ""room"" for so much of each gas to be dissolved in the water. Naturally, by increasing one you will directly reduce the other by forcing it out of the water. The best you can hope to achieve would be an equilibrium between the two.
I am no expert on this, i just did a bit of research and reading around the question so if anyone has anything different to say, please speak up and gracefully correct me!!
Chris