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CO(2) is a good solvent for many substances when compressed into its liquid or supercritical fluid state. Above the critical temperature and critical pressure (T(c)=31 degrees C, P(c)=73.8 bar, see Figure 1 for the phase diagram for CO(2)), CO(2) has both gaslike viscosities and liquidlike densities. These moderate critical conditions allow CO(2) to be used within safe commercial and laboratory operating conditions. Small changes in temperature and pressure cause dramatic changes in the density, viscosity, and dielectric properties of CO(2), making it a tunable solvent that can be tailored for various applications. Combined, these unique properties make CO(2) a "solvent of choice" for the new millennium.
Wells et al. (Tue,) studied this question.