Not the oxygen, the plants. Plants cause oxygen to disappear.
Are you sure that plant decay depletes exactly 100% of the oxygen that they produce in their life? Otherwise, wouldnt the plant build up excess CO2 from volcanoes and animals?
Also, wouldnt that vary greatly between and the plants, species, life and environment?
I don't know how much of the CO2 is taken up by plants nor do I know what percentage of CO2 produced by rot is used.
There are other mechanisms at work. I read somewhere that the ocean takes up CO2 and turns it into CaCO3.
I am a biologist, and have specialized in invertebrates. So I am no expert on this stuff. I just wanted to confirm your thought that there is a cycle at work that the wackos ignore.
Also, too high an O2 content in the atmosphere would kill most live on Earth.
Check this out.. It may answer any questions..
http://www.ghasp.org/publications/trees/tree_pollutionFAQs.html