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It is estimated that about 50% of the world's oxygen is produced via phytoplankton photosynthesis. The rest is produced via photosynthesis on land by plants. Furthermore, phytoplankton photosynthesis has controlled the atmospheric CO 2 / O 2 balance since the early Precambrian Eon.
Read this story at MIT News. Today, 21 percent of the air we breathe is made up of molecular oxygen. But this gas was not always in such ample, life-sustaining supply, and in fact was largely absent from the atmosphere for the first 2 billion years of Earthâs history. When, then, did oxygen first accumulate in the atmosphere?