Step 1: Understanding the Concept:
Carbon dioxide ($CO_2$) is a linear molecule where the central Carbon atom forms double bonds with two Oxygen atoms.
Step 2: Detailed Explanation:
1. Carbon has 4 valence electrons and Oxygen has 6.
2. To achieve octets, Carbon shares 2 electrons with each Oxygen, forming two $C=O$ double bonds.
3. The Lewis structure is: $\text{:\,Ö=C=Ö\,:}$
4. Each Oxygen atom uses 2 electrons for the double bond, leaving 4 electrons (2 lone pairs) on each oxygen atom.
5. Carbon has no lone pairs.
Step 3: Final Answer:
The correct statement is that $CO_2$ contains two $C=O$ bonds and two lone pairs on each oxygen atom.