What is a negative feed back mechanism for the correction of low blood oxygen concentration?

Oxygen is very vital for your survival. So you tend to think that low oxygen is a powerful stimulator for the respiration. But then, this is not correct. Oxygen is very sparingly soluble in the water or plasma. So oxygen is not used to regulate the respiration. Instead, the carbon bi oxide is highly soluble in water or plasma and the same forms the acid after dissolution. So the concentration of the carbon bi oxide can be easily measured by the respiration centre cells of your brain. That is why the concentration of carbon bi oxide is the stimulating or suppressing factor in case of the respiration. Increase in carbon bi oxide concentration stimulates the respiration and vise verse.