That fact checks out: about 70% of the earth's surface is covered by oceans. It follows that most photosynthesis, thus oxygen comes from oceans.
I think you are probably right, but could you kindly elaborate and provide more details? Very curious to hear your view and learn more.
Has a pretty good overview. But in brief: Changes in biosphere due to heat and decreasing pH balance due to increased CO2 can leave species unable to adapt fast enough causing deaths.
And at least the forest soil has the same amount of carbon stored.