The disclosure relates to embodiments of an explosive formulation comprising a detonable mixture of an oxidizing agent such as carbon dioxide, and a material that decomposes the oxidizing agent exothermically (a reducing agent), and additives that increase the mixture's shock sensitivity. The formulations may be used in a method to produce diamonds or nano oxides or in other applications that use traditional explosives such as, but not limited to: ammonium nitrate and fuel oil combinations (ANFO), watergel explosives, emulsion explosives and RDX.