Previous investigators have reported that oxygen consumption (VO2) continues to rise after the initial 2- to 3-min transient period of exercise when work exceeds approximately 60% of VO2 max. The purpose of this investigation was to examine the possible causes of this slow rise in VO2. Eighteen subjects exercised for 20 min at 65% and at 80% of VO2 max on the bicycle ergometer. VO2, ventilation (VE), and respiratory exchange ratio were monitored by a continuous computer-based system. Blood lactate concentration and rectal temperatures were measured at 2- to 3-min intervals during the exercise. VO2 increased significantly from the 5th to 20th min of exercise in 81% of the tests at both levels of work intensity. The magnitude of the rise was not different for the two work loads. No evidence was found to support the lactacid explanation proposed for this rise. Increased temperature could account for 30% of the rise; the estimated cost of increased VE could account for 30 and 81% of the rise at the two work loads. The sum of these factors could account for 60 and 111% of the rise in VO2 at the 65 and 80% of VO2 max work loads.