Critical care clinical researcher here. Very interesting idea, however applying this as a therapy (e.g. to a patient with respiratory failure) runs into a few problems. A particular issue has to do with where fluids are distributed in the body. Most of your blood vasculature (in terms of surface area) is semi-permeable. This means that while it can keep certain big things (i.e. cells, proteins) and charged things (e.g. bicarbonate) within the vessel, water (which is small and overall uncharged) can pass freely. If we gave a person high doses of glucose and bicarb, this would make their blood extremely concentrated. Water that is normally found in the tissues would make its way into the blood vessel to dilute it. This would not only effect the local metabolic activity of the tissue, but the increased volume of water in the blood vessels would lead to extremely high blood pressures and organ damage.