unified theory for the basis of the limitations of the primary reaction of photosynthetic CO2 fixation: Was Dr. Pangloss right?

As CO2 concentrations continue to rise and discussions on global warming assume ever more warning tones, understanding of the CO2 cycle between the atmosphere and biosphere becomes ever more important. Researchers recently discussed perhaps the biggest impediment, namely the competition between partial reactions of an enzyme that leads either to CO2 fixation or to alternative products from a wasteful oxygenation reaction.