We Breathe More Quickly and Deeply When We Exercise

We breathe more quickly and deeply when we exercise. Why does this make sense?

A) Because when we exercise, we consume more CO₂ and must increase ventilation to supply the CO₂.
B) Because when we exercise, we use more ATP, and additional O₂ is necessary to generate sufficient ATP.
C) Because when we exercise, we hydrolyze more ATP to ADP and P_i, and O₂ is necessary for the hydrolysis, so we increase our intake of oxygen.
D) Because when we exercise, we produce more CO₂ and increased ventilation is necessary to rid ourselves of CO₂.