CO2 +H2O ⇆ H2CO3 ⇆ H+ + HCO3-
1. Reaction 2 is catalyzed by carbonic anhydrase
2. Because of reaction 2, the pH of blood declines during hyperventilation
3. Reaction 1 occurs in the red blood cell without enzymatic involvement
4. Reaction 1 occurs primarily in plasma
5. The reactions move to the right when there is excess H+ in the tissues